ctcLink Accounting Manual | 40.40.30 Capital Asset Definition

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40.40.30 Capital Asset Definition

Capital assets are tangible or intangible assets held and used in college operations, which have a service life of more than one year and meet the state’s capitalization policy.

Capital assets in include land, buildings, and improvements other than buildings, equipment/furniture, library resources and construction in progress, intangible assets, inexhaustible collections, (art collections, library reserve collections and museum and historical collections) and infrastructure.

Capital assets may be acquired via purchase, donation, construction, or transfer.

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40.40.20 Capital Asset Title and Reporting <<  40.40.30 >>  40.40.30.1 Capital Asset Categories