fixedassets.appstate.eduFixed Assets | Office of the Controller

terms Search Office of the Controller Toggle navigation About Departments Financial Reports Fixed Assets Home Departments Fixed Assets Fixed Assets are defined as those tangible items with a unit cost of $5,000.00 or more including taxes, shipping, and other costs that make the equipment/ asset operative. Fixed assets normally have an estimated useful life of more than one year. System Function Account for lost or damaged property due to fire, flood or disaster. The FAS information is essential in obtaining replacement funds or collecting insurance coverage. Compliance with the requirements of the State of North Carolina that long lived assets be accounted for through an inventory control system. Deter theft and aid in tracking property that is missing. Facilitate transfer of equipment to fill a requirement on campus in lieu of new purchases. Provide data to departments, which will aid in better utilization of equipment. Determine the rate of depreciation on equipment for the purposes of calculating the University’s overhead rate to Federal Agencies. Accounting Purchases for items capitalized in the Fixed Assets System are coded to capital expenditure accounts. These accounts are classified as Capital Outlay expenditures (75XX5X). Expenditure Accounts for Appalachian State University Capital Outlay Expenditure Accounts Surplus Inventory NC State Surplus Property For questions about available surplus inventory located at the Central Warehouse, please call Donavan Perry at 828-262-3160 or perrydj@appstate.edu . Accounting Services Accounts Payable Business Processes/eCommerce Cash Management & Disbursements Contracts & Grants Accounting Financial Reporting Fixed Assets Payroll Student & Non-Student Accounts Receivable/Cashiering Tax Compliance Travel & Business Expense Reimbursement Vendor Maintenance Log in to access protected content, including Forms, Procedures, Training and Contacts. Log in Quick Links App State Travel & Expense Banner Finance Dashboard Reports Finance & Administration Financial Reports (10-yrs) Memorandums University Policy Manual Yo-Mart News & Updates New Confluence Site Experience May 4, 2023 Deadlines for FY23 Year End Close-Out (7.1.22 to 6.30.23) Apr 24, 2023 • Reminders Jun 25, 2021 more news Chart of Accounts Expense Revenue Salaries & Benefits Fund Matrix Fund Authority Matrix Contact Office of the Controller ASU Box 32125 Boone, NC 28607 Links Home Disclaimer EO Policy Accessibility Privacy Policy Login Website manager: binghamla Copyright 2024 Appalachian State University. All rights...