Non-Current Asset Policies for the Queensland Public Sector
The Non-Current Asset Policies for the Queensland Public Sector (NCAP) are mandatory for departments and statutory bodies (applicable from 1 July 2005) and it is expected that they will adopt processes which reflect each agency’s circumstances and operational characteristics.
These policy papers aim to provide a framework for identifying, valuing, recording and writing-off non-current physical and intangible assets. The policy papers must be read in conjunction with the relevant Australian accounting standards and are not intended to be read in substitution for them.
A glossary of terms defined in the Australian accounting standards, the Statements of Accounting Concepts, and the Framework for the Preparation and Presentation of Financial Statements is also available at the AASB website.
The Non-Current Asset Policies Tools contains materials to assist agencies in complying with the Non-Current Asset Policies. The tools do not form part of the Non-Current Asset Policies and have been prepared to provide guidance only. To view the NCAP tools, visit the NCAP tools page.
Draft revised Non-Current Asset Policies have been prepared and Queensland Treasury and Trade invites feedback from Queensland Government departments and statutory bodies.
|Introduction||February 2012||download (70 K)|
|NCAP 1 - Recognition of Assets||June 2013||download (225 K)|
|NCAP 2 - Complex Assets and their Significant Components||June 2013||download (100 K)|
|NCAP 3 - Valuation of Assets||June 2013||download (155 K)|
|NCAP 4 - Revaluation of Assets||June 2013||download (125 K)|
|NCAP 5 - Impairment of Assets||June 2013||download (105 K)|
|NCAP 6 - Depreciation and Amortisation||June 2013||download (120 K)|
|NCAP 7 - Disposal of Non-Current Assets||June 2013||download (65 K)|
|NCAP 8 - Accounting for Library Collections||June 2013||download (100 K)|
|Summary of Mandatory Treasury Policies||June 2013||download (105 K)|
|Summary of Changes||February 2012||download (70 K)|
|Response to Agency Feedback||February 2012||download (100 K)|
For further information:
Last reviewed 11 February 2014