Fixed Asset Depreciation
Use this page as a quick reference for fixed asset accounting at APSU. The tables below cover asset account codes, depreciation schedules, tag naming conventions, and Oracle clearing account codes by category.
Asset Accounts and Depreciation Schedule
| Asset Account | Description | Depreciation Reserve | Depreciation Expense | Useful Life | Convention | Tag Example |
|---|---|---|---|---|---|---|
|
17100
|
Land
|
N/A
|
N/A
|
N/A
|
N/A
|
L00012
|
|
17200
|
Improvements and Infrastructure
|
17299
|
7A300
|
20 years
|
Full Year
|
I00074
|
|
17300
|
Buildings
|
17399
|
7A200
|
40 years
|
Full Year
|
B00012
|
|
17400
|
Equipment
|
17499
|
7A100
|
Multiple (see equipment Useful Life below)
|
Half Year
|
E000217534
|
|
17500
|
Library Books
|
17599
|
7A400
|
10 years
|
Full Year
|
LB0001
|
|
17510
|
Other Library Holdings
|
17599
|
7A400
|
10 years
|
Full Year
|
LH0001
|
|
17600
|
Software
|
17699
|
7A500
|
See contractual agreement
|
Full Year
|
|
|
17700
|
Construction in Progress
|
N/A
|
N/A
|
N/A
|
N/A
|
|
Land (17100) and Construction in Progress (17700) are not depreciated
Equipment Useful Life by Type
Equipment under account 17400 uses a half-year convention. Useful life varies by equipment type per Banner screen FTMASTY.
| Equipment Type | Useful Life |
|---|---|
|
Athletic equipment
|
10 years
|
|
Audio visual equipment
|
10 years
|
|
Computers and peripheral equipment
|
5 years
|
|
Copiers
|
10 years
|
|
Educational and scientific equipment
|
10 years
|
|
Food service and kitchen equipment
|
10 years
|
|
Furniture
|
20 years
|
|
Heavy equipment
|
10 years
|
|
Land improvements
|
20 years
|
|
Motorized vehicles
|
5 years
|
|
Musical instruments
|
10 years
|
|
Office and operational equipment
|
10 years
|
|
Photographic equipment
|
10 years
|
|
Physical plant maintenance equipment
|
10 years
|
Tag Naming Conventions
Each fixed asset is assigned a tag number that identifies its category. The format uses a letter prefix followed by a numeric sequence.
| Asset Type | Tag Prefix | Example |
|---|---|---|
|
Land
|
L
|
L00012
|
|
Improvements and infrastructure
|
I
|
I00074
|
|
Buildings
|
B
|
B00012
|
|
Equipment
|
E
|
E000217534
|
|
Library Books
|
LB
|
LB0001
|
|
Other Library Holdings
|
LH
|
LH0001
|
Clearing Accounts by Category
| Account | Description |
|---|---|
|
78110
|
Office Equipment
|
|
78112
|
IT Office Equipment
|
|
78120
|
Operational Equipment
|
|
78122
|
IT Operational Equipment
|
|
78130
|
Instructional Equipment
|
|
78132
|
IT Instructional Equipment
|
|
78190
|
Other Equipment
|
|
78191
|
Gift in Kind Equipment
|
| Account | Description |
|---|---|
|
78210
|
Purchase of Land
|
|
78220
|
Site Development and Improvement
|
|
78290
|
Other Land Costs
|
| Account | Descriptions |
|---|---|
|
78310
|
Purchase of Buildings
|
|
78320
|
Construction of Buildings
|
|
78325
|
Gift in Kind Building
|
|
78327
|
Building Costs - ARRA
|
|
78329
|
Other Building Costs
|
| Account | Description |
|---|---|
|
78410
|
Parking Lots, Streets, Walks, etc.
|
|
78420
|
Utility System Maintenance and Operation
|
|
78490
|
Other Improvements
|
|
78495
|
Other Improvements - ARRA
|
| Account | Description |
|---|---|
|
78510
|
Books
|
|
78520
|
Periodicals
|
|
78525
|
Standing Orders
|
|
78530
|
Binding
|
|
78535
|
Bind Periodicals
|
|
78540
|
Films
|
|
78550
|
Microform
|
|
78580
|
Other Library
|
|
78585
|
Electronic Resources
|
|
78587
|
Non-Book Online Resources - Perpetual
|
|
78590
|
Library Holdings
|
| Account | Description |
|---|---|
|
78610
|
Capitalized Software
|
Important Notes
-
Leases and SIBITAS capital assets have their own fund and are not included in the Fixed Asset Module for Oracle.
-
Library Books — Only one asset should be created for the entire fiscal year, with costs added to that single asset. Review the General Ledger to determine the correct cost.
-
Construction in Progress (CIP) — CIP assets include only Buildings, Improvements, and Infrastructure.