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Capital Assets

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PPGPortal > Home > Concept Dictionary > B, C > Capital Assets
 

Capital Assets 

Tangible assets that are purchased, constructed, developed or otherwise acquired and held for use in the production or supply of goods, delivery of services, or production of program outputs.

(Treasury Board of Canada Secretariat. "RPP/DPR Lexicon." Estimates <http://www.tbs-sct.gc.ca/est-pre>.)

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Capital assets are tangible assets that are purchased, constructed, developed or otherwise acquired and held for use in the production or supply of goods, delivery of services, or production of program outputs. They have a useful life that extends beyond one year and are not intended for resale in the normal course of operations. Capital assets include land, buildings, military assets, infrastructure assets, purchased or in-house developed software, computer hardware, equipment, leasehold improvements and assets acquired by capital leases or donations. [Heritage assets which are also used for operational purposes (office or lab space) are considered capital assets, but not non-operational assets (such as museum or gallery collections or archaeological sites). Some items, such as furniture, tools, personal computers, are typically purchased or acquired in large quantities and capitalized as a pool or group for amortization purposes.] A complete definition can be found in the Treasury Board Accounting Standard 3.1 (http://www.tbs-sct.gc.ca/pubs_pol/dcpubs/accstd/capasset_e.asp).

References

Treasury Board of Canada Secretariat. "RPP/DPR Lexicon." Estimates http://www.tbs-sct.gc.ca/est-pre

     

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