Territory Stories

2009 Corporate total asset management plan

Details:

Title

2009 Corporate total asset management plan

Other title

Darwin City Council

Collection

City of Darwin reports; Reports; PublicationNT

Date

2009

Description

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Notes

Date:2009

Language

English

Subject

Darwin(N.T.) -- Council -- Periodicals

Publisher name

Darwin City Council

Place of publication

Darwin

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/240707

Citation address

https://hdl.handle.net/10070/621982

Page content

64 Corporate Asset Management Plan CCoorrppoorraattee AAsssseett MMaannaaggeemmeenntt PPllaann Expenditure: The spending of money on goods and services. Expenditure includes recurrent and capital. Fair value: The amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties, in an arms length transaction. Depreciation/ amortisation: the consumption of an asset, whether arising from use, passing of time or obsolescence through technological and market changes. It is accounted for by allocation of the cost (or re-valued amount) of the asset less its residual value over its useful life. Depreciable amount : The cost of an asset, or other amount substituted for its cost, less its residual value (AASB 116.6) Depreciated replacement cost (DRC): The current replacement cost (CRC) of an asset less, where applicable, accumulated depreciation calculated on the basis of such cost to reflect the already consumed or expired future economic benefits of the asset Disposal: Activities necessary to dispose of decommissioned assets. Donated Assets: Assets that are created/acquired by others eg developers or State government, whose ownership has been transferred to Council. Economic life: See useful life definition. Expenditure: The spending of money on goods and services. Expenditure includes recurrent and capital. Fair value: The amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties, in an arms length transaction. FD: Finance Department of Council. IPWEA: Institute of Public Works Engineers Australia. Greenfield asset values **: Asset (re)valuation values based on the cost to initially acquire the asset. Heritage asset: An asset with historic, artistic, scientific, technological, geographical or environmental qualities that is held and maintained principally for its contribution to knowledge and culture and this purpose is central to the objectives of the entity holding it. Impairment Loss: The amount by which the carrying amount of an asset exceeds its recoverable amount.


Aboriginal and Torres Strait Islander people are advised that this website may contain the names, voices and images of people who have died, as well as other culturally sensitive content. Please be aware that some collection items may use outdated phrases or words which reflect the attitude of the creator at the time, and are now considered offensive.

We use temporary cookies on this site to provide functionality.
By continuing to use this site without changing your settings, you consent to our use of cookies.