Non-Current Asset Policies for the Queensland Public Sector
"Non-Current Asset Policies for the Queensland Public Sector" is a document published by the Queensland Government with the intention of:
- providing a framework for identifying, valuing, recording and writing-off non-current physical and intangible assets;
- clarifying the definition of, and accounting recognition concepts for, assets;
- providing guidance on determining the periodic cost of using assets (depreciation/amortisation);
- specifying a basis for valuing non-current assets; and
- seting out the approach to be adopted in regularly reviewing the carrying amount of assets and, where appropriate, writing down or revaluing assets.