Pooled assets
A pooled asset is a single asset record that represents multiple assets or transactions flowing through the asset. Non-pooled assets are a unique asset that equals an asset record. Each asset can only have one depreciation start date. Typically, a pooled asset is set up for each fiscal year and asset group.
After a capital asset has been added to a pooled tangible capital asset class, the asset generally remains in the asset class until the asset is fully depreciated. Typically, capital assets are used until the end of their useful life and when there is no significant advantage of reporting the assets on an individual basis. For example, when the balance of the tangible capital asset class would not be materially different if they were reported individually.
Capital assets recorded under the pooled cost approach are to be reported by year of purchase in the applicable capital asset class.
Capital assets recorded that use the pooled cost approach have a deemed disposal at the end of their useful life. Typically, individual disposals are not recorded. If an asset is sold or disposed of before the asset has reached the end of the asset's useful life, the proceeds are recorded as revenue.
The following table provides an example of FA Subclasses that are indicated as pooled assets.
| Sort | FA Class Code | Code | Name | Pooled |
|---|---|---|---|---|
| 0 | 1-BLDG | 1-BLDG | Buildings (40) | Clear |
| 0 | 1-BLDG | 1-OBLD | Other Buildings (20) | Clear |
| 0 | 1-BLDG | 1-PORT | Portable Structures (20) | Selected |
| 0 | 2-LAND | 2-LFIN | Land with Finite Life (15) | Selected |
| 0 | 2-LAND | 2-LINF | Land with Infinite Life (n/a) | Selected |
| 0 | 5-VEHL | 1-VEHL | Vehicle<(10,000) pounds | Clear |
| 0 | 7-CIPR | 16-CIP | Construction in Progress | Selected |
| 0 | 3-EQUI | 06-EQP05 | Equipment (5) | Clear |
| 0 | 3-EQUI | 07-EQP07 | Equipment (7) | Clear |
| 0 | 8-LEAS | 1-LSE | Lane Lease (01) | Clear |
Feedback
To send feedback about this page, select the following link: