Non-current asset policies
The non-current asset policies (NCAP) for the Queensland Public Sector are mandatory for departments and statutory bodies (for reporting periods beginning on or after 1 July 2024). 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.
Documents
- Introduction
- NCAP 1 – Recognition of Assets (Effective from 1 July 2024)
- NCAP 2 – Complex Assets (Effective from 1 July 2024)
- NCAP 3 – Valuation of Assets (Effective from 1 July 2024)
- NCAP 4 – Impairment of Assets (Effective from 1 July 2024)
- NCAP 5 – Depreciation and Amortisation (Effective from 1 July 2024)
- NCAP 6 – Disposal of Non-Current Assets (Effective from 1 July 2024)
- Summary of Mandatory Treasury Policies
- Summary of Noteworthy Changes 2024-25
- Summary of Stakeholder Feedback 2024-25
Non-current asset policies tools
The non-current asset policies tools provide 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.