FASAB: Amending SFFAS No. 11, Amendments to Property, Plant, and Equipment; SFFAS No. 8, Supplementary Stewardship Reporting; and SFFAS No. 6, Accounting for Property, Plant, and Equipment Page: 4 of 58
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ii
:EXECUTIVE SUMMARY
early implementation of this standard, Major End Items would be capitalized but not
depreciated, while Mission Support Items would be capitalized and depreciated. Also,
beginning in FY2006, or upon early implementation of this standard, a) data for the ten
largest current acquisition programs would be disclosed; b) the total estimated cleanup cost
per Major End Item would be recognized as a part of the acquisition cost as items are
placed into service; and c) for Mission Support items, the total estimated cleanup cost would
be recognized as an expense and a liability established ratably oVier the period that the item
is in operation.iL
Federal Accounting Standards Advisory Board
Exposure Draft
Accounting for National Defense PP&E and Associated Cleanup.Cost
September 2001
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United States. General Accounting Office. FASAB: Amending SFFAS No. 11, Amendments to Property, Plant, and Equipment; SFFAS No. 8, Supplementary Stewardship Reporting; and SFFAS No. 6, Accounting for Property, Plant, and Equipment, text, August 30, 2001; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc292523/m1/4/: accessed April 25, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.