Non-Financial Asset

A Non-Financial Asset is an asset with a physical value such as real estate, equipment, machinery, gold or oil.

Victorian Auditor-General’s Office

The Victorian Auditor-General’s Annual Plan 2015–162 notes that "Local councils are required, under AASB 116, Property Plant and Equipment, to carry major classes of non-financial assets at fair value. These assets are subject to periodic revaluation performed by external consultants, engaged by an individual local council or by in-house local council valuers."

Related Pages

External Links & References

  1. Google Search
  2. Victorian Auditor-General’s Annual Plan 2015–16
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