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.

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 December 2014 pdf download (940 K)
Introduction December 2014 pdf download (210 K)
NCAP 1 - Recognition of Assets December 2014 pdf download (280 K)
NCAP 2 - Complex Assets December 2014 pdf download (145 K)
NCAP 3 - Valuation of Assets December 2014 pdf download (270 K)
NCAP 4 - Impairment of Assets December 2014 pdf download (160 K)
NCAP 5 - Depreciation and Amortisation December 2014 pdf download (180 K)
NCAP 6 - Disposal of Non-Current Assets December 2014 pdf download (115 K)
NCAP 7 - Accounting for Library Collections December 2014 pdf download (150 K)
Transitional Guidance to Accompany 2014-15 NCAP Update December 2014 pdf download (135 K)
Summary of Mandatory Treasury Policies December 2014 pdf download (150 K)
Summary of Noteworthy Changes December 2014 pdf download (120 K)
Summary of Stakeholder Feedback December 2014 pdf download (145 K)

For further information: