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Non-Current Asset Policies for the Queensland Public Sector

The Non-Current Asset Policies for the Queensland Public Sector (NCAP) on this web page are mandatory for departments and statutory bodies (for reporting periods beginning on or after 1 July 2013). It is expected that agencies will adopt processes for their circumstances and operational characteristics.

These policies aim to provide a framework for identifying, valuing, recording and writing-off non-current physical and intangible assets. The policies 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.

Draft Non-Current Asset Policies - 2014-15

Revised draft NCAPs have been prepared for 2014-15 and Queensland Treasury and Trade invites feedback from Queensland Government departments and statutory bodies. 

Non-current asset policies tools 

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.

Title Date File type Link
NCAP - All Chapters April 2014 pdf download (1,015 K)
Introduction April 2014 pdf download (125 K)
NCAP 1 - Recognition of Assets April 2014 pdf download (235 K)
NCAP 2 - Complex Assets and their Significant Components April 2014 pdf download (105 K)
NCAP 3 - Valuation of Assets April 2014 pdf download (270 K)
NCAP 4 - Impairment of Assets April 2014 pdf download (110 K)
NCAP 5 - Depreciation and Amortisation April 2014 pdf download (135 K)
NCAP 6 - Disposal of Non-Current Assets April 2014 pdf download (75 K)
NCAP 7 - Accounting for Library Collections April 2014 pdf download (115 K)
Transitional Guidance to Accompany Revised Non-Current Asset Policies April 2014 pdf download (80 K)
Summary of Mandatory Treasury Policies April 2014 pdf download (90 K)
Summary of Noteworthy Changes April 2014 pdf download (90 K)
Summary of Stakeholder Feedback April 2014 pdf download (90 K)

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Last reviewed 29 October 2014