Description
The attached OUSD Memorandum dated June 27 2016, indicates the estimated useful life of real property has changed. Also, there are now 3 key inputs versus the 2 currently allowed.
Recommended
Please have DPAS change the number of years in the ACC field to 45, 40 and 35 years for new construction and 20 and 15 years for capital improvements.
Also, please update the "Asset Cd" allow for Buildings, Linear Structures, and Structures.
Mission Critical
Mandated by OUSD: Financial Reporting Policy for Real Property Estimated useful Lives, Land Valuation, and Accounting for Real Property Outside of the United States. June 27, 2016.
Benefits
Improves Accuracy, Accounting and Financial Reporting.
Users
It will affect all Real Property users within our Component/Agency.
Completed - Release 5.0 - 03 February 2017
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