GASB requires that infrastructure be depreciated on the government-wide statements unless the government chooses to use the modified approach which expenses amounts expended to increase the life of infrastructure.

Question

Quizplus · Accepted Answer

GASB permits two methods to record costs incurred to extend the life of infrastructure assets. Governments can record depreciation in the same manner as other depreciable assets, or it may expense those costs when incurred.

GASB Requires That Infrastructure Be Depreciated on the Government-Wide Statements