1、Designation:E213510a1Standard Terminology forProperty and Asset Management1This standard is issued under the fixed designation E2135;the number immediately following the designation indicates the year oforiginal adoption or,in the case of revision,the year of last revision.A number in parentheses in
2、dicates the year of last reapproval.Asuperscript epsilon()indicates an editorial change since the last revision or reapproval.1NOTESection 2 was updated and terms were placed in Section 3 editorially in July 2013.1.Scope1.1 This terminology covers traditional property manage-ment definitions and som
3、e of the terms introduced in additionalasset management standards that are used most often andconsidered most important.As new standards are developed,new terms will be added to this terminology in future revisions.2.Referenced Documents2.1 ASTM Standards:2E2221 Practice for Administrative Control o
4、f Property(Withdrawn 2011)3E2306 Practice for Disposal of Personal PropertyE2452 Practice for Equipment Management Process Matu-rity(EMPM)ModelE2453 Practice for Determining the Life-Cycle Cost ofOwnership of Personal PropertyE2495 PracticeforPrioritizing AssetResourcesinAcquisition,Utilization,and
5、DispositionE2604 Practice for Data Characteristics of Equipment Re-cordsE2606 Practice for Receipt Notification as a Result ofTangible Property MovementE2607 Practice for Cannibalization/Reclamation of Service-able Equipment Components to Support Demand Require-mentsE2608 Practice for Equipment Cont
6、rol Matrix(ECM)E2674 Practice for Assessment of Impact of Mobile DataStorage Device(MDSD)LossE2675 Practice for Property Management System OutcomesE2811 Practice for Management of Low Risk Property(LRP)E2812 Practice for Uniform Data Management in AssetManagement Records Systems3.Terminology3.1 Term
7、s and Definitions:abandon,vto give up all and any future claim to rights orinterest in property.abandoned property,nproperty of any type over which therightful owner has relinquished possession and any claim ofan ownership interest.abatement,na reduction or cancellation of an assessed tax.ABC method
8、,ninventory management method that catego-rizes items in terms of importance.Thus,more emphasis isplaced on higher dollar value items(“A”s)than on lesserdollar value items(“B”s),while the least important items(“C”s)receive the least time and attention.Inventory shouldbe analyzed frequently when usin
9、g the ABC method.Theprocedure for ABC analysis follows:(1)Separate finishedgoods into types(chairs of different models,and so on);separate raw materials into types(screws,nuts,and so on).(2)Calculate the annual dollar usage for each type ofinventory(multiply the unit cost by the expected futureannua
10、l usage).(3)Rank each inventory type from highest tolowest,based on annual dollar usage.(4)Classify theinventory as Athe top 20%;Bthe next 30%;andCthe last 50%of dollars usage,respectively.(5)Tag theinventory with its appropriate ABC classification and recordthose classifications in the item invento
11、ry master records.abnormal spoilage,nfor government accounting under theFAR,abnormal spoilage may or may not be allowable cost.If the cost is deemed allowable,the cost would normally becharged consistently with normal spoilage.accelerated cost recovery system(ACRS),nsystem ofdepreciation for tax pur
12、poses mandated by the EconomicRecovery Act(ERA)of 1981 and modified by the TaxReform Act of 1986.The type of property determines itsclass.Instead of providing statutory tables,prescribed meth-ods of depreciation are assigned to each class of property.For 3,5,7,and 10-year classed,the relevant deprec
13、iation1This terminology is under the jurisdiction of Committee E53 on AssetManagement and is the direct responsibility of Subcommittee E53.06 on Terminol-ogy.Current edition approved Oct.15,2010.Published November 2010.Originallyapproved in 2001.Last previous edition approved in 2010 as E2135 10a.DO
14、I:10.1520/E2135-10AE01.2For referenced ASTM standards,visit the ASTM website,www.astm.org,orcontact ASTM Customer Service at serviceastm.org.For Annual Book of ASTMStandards volume information,refer to the standards Document Summary page onthe ASTM website.3The last approved version of this historic
15、al standard is referenced onwww.astm.org.Copyright ASTM International,100 Barr Harbor Drive,PO Box C700,West Conshohocken,PA 19428-2959.United States1 method is the 200%declining balance method.For 15 and20-year property,the appropriate method is the 150%declining balance method switching to the str
16、aight-linemethod when it will yield a larger allowance.For residentialrental property(27.5 years)and nonresidential real property(31.5 years),the applicable method is the straight-linemethod.A taxpayer may make an irrevocable election totreat all property in one of the classes under the straight-linemethod.Property is statutorily placed in one of the classes.The purpose of ACRS is to encourage more capital invest-ment by businesses.It permits a faster recovery of the assetscost and thus provides