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Q1-2 What is property?

"Property": Includes land, land improvement, building, and equipment, as well as machinery, equipment, transportation, and miscellaneous equipment with a unit price in excess of $10,000 and a service life in excess of 2 years.

From January 1, 2002, onwards, batch procurements where the unit price is less than $10,000 do not need to be recorded as an asset. (Tai-90-Chu-Hui-2 Letter No. 09294, Directorate-General of Budget, Accounting and Statistics, Executive Yuan)

Books assigned to the library collection category must still be handled in accordance with the relevant regulations.

Property categories:

(1)  Land.

(2)  Land improvement.

(3)  Building and equipment

(4)  Machinery and equipment.

(5)  Transportation and moving equipment.

(6)  Miscellaneous equipment.

(7)  Securities.

(8)  Rights.

(Accounting classification is the jurisdiction of the Accounting Office. Any related inquiries should be directed to the Accounting Office)

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