ASTM E2219

ASTM E2219 – Standard Practice for Valuation and Management of Moveable, Durable Property (Withdrawn 2009)

1.1 This practice covers the assignment of a value to property that provides an economic and logical basis for efficient and cost-effective property management. This value should be the basis for allocating resources and developing and improving systems and processes for the acquisition, control, accounting and disposal of such property.

1.2 While acquisition cost and depreciation of property are useful and appropriate for financial accounting and reporting purposes, this information does not reflect the value of property to an organization or the costs and other damages the organization would incur if the property were lost, damaged, destroyed, or inappropriately released or handled. This financial information is therefore inadequate for property management purposes.

1.3 The degree to which property is controlled and the cost of that control must be reasonable and commensurate with the practical consequences of both a shortage; that is, the property not being available when needed due to loss, damage or destruction; or an overage; that is, maintaining inventories of excess property.

1.4 The valuation of property for the purposes of management and control is to be based upon the risks and costs of shortages and overages as well as the cost of owning property.

Product Details

Published:

07/10/2002

Number of Pages:

3

File Size:

1 file , 29 KB

Note:

This product is unavailable in Russia, Ukraine, Belarus