[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-393436-105":3,"detail-sidebar-cat-1-en-105":81,"doc-detail-393436-en":127},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","fixed-assets-valuation-methodology-mdlf-updated-version-dec-2010","Fixed Assets Valuation Methodology - MDLF - Updated Version, Dec. 2010","","Fixed Assets Valuation Methodology for the Local Government Capacity Building Project (LGCBP) outlines how the Ministry of Local Government will assign initial values and conduct revaluations of existing and future fixed assets during the transition from cash accounting to a modified accrual basis. The approach aligns with GAAP and applies to diverse fixed assets such as networks, buildings, land, equipment, and vehicles. It also sets guidance for future Fixed Asset Manual policies on recording acquisition, ownership, utilization, disposal, and replacement, based on information gathered from visits to eight LGUs in West Bank and Gaza.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/general/","General",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/fixed-assets-valuation-methodology-mdlf-updated-version-dec-2010/393436/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/fixed-assets-valuation-methodology-mdlf-updated-version-dec-2010/393436.png","ImageObject",442,249,{"name":42,"@type":43},"Well Done","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-11-02","2026-09-26",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",9,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What is the purpose of the Fixed Assets Valuation Methodology in the LGCBP?","Question",{"text":63,"@type":64},"It provides a comprehensive framework for valuing and revaluing fixed assets so LGUs can initially assign values as part of transitioning from cash to a modified accrual basis of accounting.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"Which accounting standards does the methodology reference?",{"text":68,"@type":64},"It is based on generally accepted accounting principles, including IPSAS 17 and IPSAS 16, IAS 16 and IAS 36, and guidance from GASB 34.",{"name":70,"@type":61,"acceptedAnswer":71},"How does the methodology treat the useful life of an asset?",{"text":72,"@type":64},"It defines useful life as the period an asset is expected to be available for use or the number of production or similar units expected from the asset.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},393436,1791361800,{"code":4,"msg":82,"data":83},"success",[84,89,94,99,104,109,114,119,124],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":86,"show_sort_weight":87,"slug":88},11,"Presentations",90,"presentations",{"id":90,"doc_module":22,"doc_module_name":25,"category_name":91,"show_sort_weight":92,"slug":93},12,"Resumes",80,"resumes",{"id":95,"doc_module":22,"doc_module_name":25,"category_name":96,"show_sort_weight":97,"slug":98},14,"Invoices",70,"invoices",{"id":100,"doc_module":22,"doc_module_name":25,"category_name":101,"show_sort_weight":102,"slug":103},15,"Posters",60,"posters",{"id":105,"doc_module":22,"doc_module_name":25,"category_name":106,"show_sort_weight":107,"slug":108},16,"Social Media",50,"social-media",{"id":110,"doc_module":22,"doc_module_name":25,"category_name":111,"show_sort_weight":112,"slug":113},17,"Forms",40,"forms",{"id":115,"doc_module":22,"doc_module_name":25,"category_name":116,"show_sort_weight":117,"slug":118},18,"Letters",30,"letters",{"id":120,"doc_module":22,"doc_module_name":25,"category_name":121,"show_sort_weight":122,"slug":123},21,"Paper Templates",5,"papers-templates",{"id":125,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":4,"slug":126},158,"general-158",{"code":4,"msg":82,"data":128},{"doc_id":79,"user_id":129,"nickname":42,"user_avatar":130,"doc_module":22,"category_id":125,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":136,"language":137,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":12,"update_tm":141,"read_time":142},5909892210082,"https://ap-avatar.wpscdn.com/avatar/56001069da27c9f41e8?x-image-process=image/resize,m_fixed,w_180,h_180&k=1789614185077863061","Fixed Assets Valuation Methodology  \nLocal Government Capacity Building Project (LGCBP)  \nMDLF – Updated Version, Dec.2010 1  \n1 INTRODUCTION  \nIn the following section a comprehensive design for Fixed Asset Valuation Methodology is presented. This methodology, once adopted by the Ministry of Local Government (MOLG), would be used by all LGUs to initially assign a value or revalue existing and future fixed assets, as part of the transition from cash to a modified accrual basis of accounting.  \nThe methodology is consistent with generally accepted accounting principles (GAAP), which applies to all types of fixed assets (including water, sewerage & electricity networks, buildings, land, equipment, vehicles, etc., as appropriate) owned by the myriad local government units (LGUs), large, medium and small in size, operating in the West Bank and Gaza.  \nThe Methodology will form the basis for development of the Fixed Asset Manual which will include the detailed policies and procedures to be followed by local governments in properly recording the acquisition, ownership, utilization, disposal and replacement of municipal fixed assets.  \nThis Fixed Asset Valuation Methodology is prepared based on information collected by visiting 8 LGUs in both West Bank and Gaza. The selected LGUs are:  \nThe initial phase of the project included a fact finding missions to the eight selected LGUs to get an overview of what kind of assets exist. Available procedures and information regarding the assets has also been identified and initial discussions regarding fixed assets requirements and the methodology for valuation during the mission.  \nThe visits to the LGUs were very helpful and provided valuable information to our team. All information collected has been organized and structured as shown in this document. The Consultant cannot be sure that all assets are described in the structure and valuation methodology and it is assumed that this document would outline the main assets and the valuation methodologies that should be further developed by valuators and the municipalities in the actual valuation of the fixed assets to come.  \nMDLF – Updated Version, Dec.2010 2  \n2 GENERAL VALUATION METHODOLOGY AND DEFINITIONS  \nIn the following the various general and basic definitions, regardless of categories of  \nassets, have been described. This together with the specific definitions described under each and every category of asset (electricity, water, sewer etc.) forms the complete Fixed Assets Valuation Methodology to be used by all LGUs.  \n2.1 Standards  \nThe Fixed Assets Valuation Methodology is based on generally accepted accounting principles where mainly the following international standards have been used:  \nIPSAS - International Public Sector Accounting Standard, IPSAS 17-Property Plant and Equipment  \nIPSAS 16-Investment Property  \nGASB 34 - Governmental Accounting Standard Board (for guidance purposes) IAS-International Accounting Standard  \n IAS 16-Property Plant and Equipment  \n IAS 36-Impairment of Assets IVS-International Valuation Standard  \nThe special conditions in Palestine have been the basis for development of a simple, ease and understandable procedures, which will make the final implementation less problematic.  \n2.2 Definition of an Asset  \nThe main definitions of what are classified as an asset have been (will be) described and included in the Fixed Assets Manual describing the policies and procedures. However, the assets that should be included in the valuation are described further below.  \nMDLF – Updated Version, Dec.2010 3  \nBased on the definitions a cut off policy is established and described in Paragraph 2.4 for expenditure that should be capitalized versus those that should be expensed or reported as inventory of supplies.  \n2.2.1 Method of Acquisition  \nThe method of acquisition is not a determining factor in classifying an item asa fixed asset. Items acquired by any means, including regular purchase, lease/purchase, donation,","cbCaikfmgIm9hiWT","https://ap.wps.com/l/cbCaikfmgIm9hiWT","pdf",900760,98,"English","# Introduction\n# General Valuation Methodology and Definitions\n## Standards\n## Definition of an Asset\n### Method of Acquisition\n### Investment Property\n### Enterprise Funds Property, Plant of Equipment\n### General Governmental Funds Fixed Assets\n## Useful Life of Asset\n## Definition & Guide Lines for Useful Life of Fixed Assets","[{\"question\":\"What is the purpose of the Fixed Assets Valuation Methodology in the LGCBP?\",\"answer\":\"It provides a comprehensive framework for valuing and revaluing fixed assets so LGUs can initially assign values as part of transitioning from cash to a modified accrual basis of accounting.\"},{\"question\":\"Which accounting standards does the methodology reference?\",\"answer\":\"It is based on generally accepted accounting principles, including IPSAS 17 and IPSAS 16, IAS 16 and IAS 36, and guidance from GASB 34.\"},{\"question\":\"How does the methodology treat the useful life of an asset?\",\"answer\":\"It defines useful life as the period an asset is expected to be available for use or the number of production or similar units expected from the asset.\"}]","Fixed Assets Valuation Methodology - MDLF - Updated Version, Dec. 2010 | PDF",1790386346,34]