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Durable
Asset Tags for compliance in Governmental Accounting Standards Board
(GASB) Statement 34, 35 "Life of Asset" Public Infrastructure Reporting
Cleveland,
OH - March, 15 - Recent changes in guidance published by the
Governmental
Accounting Standards Board (GASB Statement 34 & 35) now require,
in "Statement of Net Assets" the reporting of infrastructure assets
for some government entities as early as 2005 (previously optional).
MetalPhoto bar code
asset tags used in fixed asset tracking applications allow life-cycle
management, meeting GASB standards in compliance with public property
management accounting standards - tracking acquisition, sale & disposal
of fixed assets.
Asset
tags or bar code tags are used by public agencies for property identification
and to help track the useful life of owned assets. Durable
MetalPhotoŽ barcode asset tags last the life of the fixed assets
and ease reporting of new capital asset acquisition, useful life
depreciation and disposal.
GASB
standards embodied within "Statement 34", require public infrastructure
assets such as roads, bridges, tunnels, water and sewer systems
and dams, be reported together with related depreciation or preservation
costs. "Statement
35" applies GASB 34 in the comprehensive financial statements
of public colleges and universities.
MetalPhotoŽ
bar code asset tags, when incorporated into a fixed asset tracing
program, can help govermment agencies:
-
Identify owned assets quickly and easily
-
Compliance with government regulations
-
Track useful life of assets and depreciation schedules
-
Schedule maintenance and replacement of owned assets
Camcod.com
has sold more than ten million asset tags & barcode security labels since
1995. Serving the following clients at public & state universities
and state & local government institutions with warehouse labels
and signs, UID labels, Metalphoto asset tags, Property ID tags.
Social
Security Administration, Miami Childrens Hospital, University Of
Texas, John C. Lincoln Hospital, Charter Township Of West Bloomfield,
Brandeis University, Township of Monroe, Town of Longboat Key, San
Joaquin Valley College, Dept. of Navy CNAT, State University of
New York, The Toledo Hospital, South Florida Regional Planning Council,
Baylor Health Care System, St. Joseph's Mercy Hosp., University
of Nebraska
Contact:
Joe Bruneman
Camcode Division of Horizons Inc.
18531 South Miles Road
Cleveland Ohio 44128
800-627-3917
Fax 216-475-6507
E-mail: info@camcod.com
http://www.camcod.com/asset/fixed.asp
About
the Governmental Accounting Standards Board (GASB)
The
GASB is an independent, not-for-profit organization formed in 1984
to establish and improve financial accounting and reporting standards
for state and local governments. Seven members are drawn from the
Board's diverse constituency, including preparers and auditors of
government financial statements, users of those statements and members
of the academic community. Information about GASB can be found at
http://www.gasb.org
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