Updated to add how to find asset detail lists on IUIE and most recent CATS presentation related to capital assets.
Equipment is defined as personal, tangible property. Equipment with an acquisition value of $5,000 or more and a normal life expectancy of greater than one year is defined as capital equipment.
The acquisition value of movable capital equipment includes the university’s cost of equipment and all additional costs necessary to place an asset in its intended location and condition for use.
To properly capitalize equipment correct Object Codes must be used on the purchase order.
For further details on capitalization definitions, policies, and procedures, see Office of the Controller’s Capital Assets CSOP 8.0 Capitalization of Movable Equipment.
For further details about preparing for your unit’s inventory go to CSOP 4.0 Physical Inventories
Asset Detail List - How to find it:
Go to IUIE Master Catalog → Kuali Financial → Capital Asset Management System → Inventory Control Reports → Asset Detail List. Then select Inventory Scan List from the first drop down in the parameters section of the report.
|Questions or Guidance
|Capital Asset Management