What are the asset classes?

  Asset class Asset recognition threshold Measurement method
Property, plant and equipment Land $1 (all land) Revaluation
Property, plant and equipment Buildings $10,000 Revaluation
Property, plant and equipment Infrastructure $10,000 Revaluation
Property, plant and equipment Major plant & equipment (optional class) ≥$5,000 (at discretion of agency management) Revaluation
Property, plant and equipment Plant & equipment $5,000 Cost
Property, plant and equipment Library reference collections $1,000,000 Revaluation
Property, plant and equipment Leased assets (finance lease) Threshold of class to which asset would belong if not subject to finance lease Revaluation (per AASB 117)
Property, plant and equipment Heritage & cultural assets $5,000 Revaluation
Property, plant and equipment Work in progress n/a Cost
Intangibles Software purchased $100,000 No active market: cost
Active market: revaluation (per AASB 138)
Intangibles Software internally generated $100,000 No active market: cost
Active market: revaluation (per AASB 138)
Intangibles Intellectual property $100,000 No active market: cost
Active market: revaluation (per AASB 138)
Intangibles Other intangibles $100,000 No active market: cost
Active market: revaluation (per AASB 138)
Intangibles Digital library reference collections $1,000,000 No active market: cost
Active market: revaluation (per AASB 138)
Intangibles Digital library heritage collections $5,000 No active market: cost
Active market: revaluation (per AASB 138)
Intangibles Software work in progress n/a Cost
Intangibles Intellectual property work in progress n/a Cost

For sub-classes and definitions, see Appendix 1.1 of the NCAP.

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