Description:
IAW OSW and Department of the Air Force, the capitalization threshold for financial statements of General Equipment (GE) that are General Fund (GF) has increased and requires an update to the Capitalization threshold in ELMS
Recommended:
As directed by the SAF/FMF, update the GF threshold from $1M to $10M, the new threshold will be applied retroactively and will apply to all DAF purchased records regardless of when the asset was purchased. New threshold needs to be applied for all the DAF PA module Site -ids FH-AFHAF, DF-CDMO, DF-VEHS, FF-GEIT, FF-CIOGE, FL-AFTAC, FS-MPEEA, SF-SDA and DF-RDTE
Mission Critical:
IAW the memo issued by OSW Comptroller and at the direction of the SAF/FMF Capitalization thresholds for financial statements have been increased.
Benefits:
Financial reporting to the General ledger reflecting the updated threshold as directed by SAF/FMF for depreciation of capital assets.
Frequency:
Monthly
Users:
Enterprise for the following PA module Site -ids FH-AFHAF, DF-CDMO, DF-VEHS, FF-GEIT, FF-CIOGE, FL-AFTAC, FS-MPEEA, SF-SDA and DF-RDTE
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