Depreciating Professional, Academic, and Research Library Books and Materials
Procedures for Depreciating Professional, Academic and Research Library Books and Materials
Two conversion methods
Because agencies report library assets in different ways in SPA, the Comptroller’s office has developed two conversion methods, Method 1 and Method 2:
| A state entity that… | can use… |
|---|---|
| already componentizes | either method, but Method 1 is preferred. |
| does not already componentize | only Method 1. |
Method 1 requires setting up library assets in accordance with these guidelines. It may require more up-front work for libraries whose assets are structured differently. However, it produces SPA reports that are cleaner and therefore avoids considerable manual adjustment. See Example: Componentizing and Calculating Average Cost per Volume PDF.
Method 2 consists of changing the class code on the property. This requires less up-front time. However, it produces SPA CAAB101 and 201 reports that will require multiple manual adjustments.
Procedures for the two methods differ depending on whether the library has Class Code 752 items.
For more information
If you have questions, please contact your Financial Reporting analyst or your SPA analyst.