Inexhaustible collections of ONPOs are not required to be capitalized or depreciated, if certain criteria are met.

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Inexhaustible collections of ONPOs are not required to be capitalized or depreciated, if certain criteria are met. Why is this so, and what accounting and reporting recognition, if any, is required for such inexhaustible collections?

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Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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Question Posted: Oct 25, 2014 05:05 AM

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Inexhaustible collections of ONPOs are not required to be capitalized or depreciated, if certain criteria are met.

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The FASB defines collections as Works of art historical treasures or similar assets that are a ...View the full answer

Governmental and Nonprofit Accounting

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