ASTM E2135-10

Standard Terminology for Property and Asset Management

SCOPE
1.1 This terminology covers traditional property management definitions and some of the terms introduced in additional asset management standards that are used most often and considered most important. As new standards are developed, new terms will be added to this terminology in future revisions.

General Information

• Status: Historical
• Publication Date: 30-Jun-2010
• ICS: 01.040.97 - Domestic and commercial equipment. Entertainment. Sports (Vocabularies)
• Technical Committee: E53 - Asset Management
• Drafting Committee: E53.06 - Terminology

Relations

• Replaces: ASTM E2135-07e1 - Standard Terminology for Property and Asset Management
• Effective Date: 01-Jul-2010
• Replaced By: ASTM E2135-10a - Standard Terminology for Property and Asset Management
• Effective Date: 15-Oct-2010
• Referred By: ASTM E2279-20 - Standard Practice for Establishing the Guiding Principles of Property Asset Management
• Effective Date: 01-Jul-2010
• Referred By: ASTM E2453-19 - Standard Practice for Estimating the Life-Cycle Cost of Ownership of Property Assets
• Effective Date: 01-Jul-2010
• Referred By: ASTM E2605-13(2019) - Standard Practice for Receiving Assets
• Effective Date: 01-Jul-2010
• Referred By: ASTM E2715-17 - Standard Practice for Moveable Property Storage
• Effective Date: 01-Jul-2010
• Referred By: ASTM E3257-21 - Standard Practice for Asset Taxonomy
• Effective Date: 01-Jul-2010
• Referred By: ASTM E3056-16(2021) - Standard Guide for Strategic Warehousing
• Effective Date: 01-Jul-2010
• Referred By: ASTM E2495-18 - Standard Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
• Effective Date: 01-Jul-2010
• Referred By: ASTM E2812-17 - Standard Practice for Uniform Data Management in Asset Management Records Systems
• Effective Date: 01-Jul-2010
• Referred By: ASTM E3173-18 - Standard Guide for Decommissioning and Disposal of Medical Equipment
• Effective Date: 01-Jul-2010
• Referred By: ASTM E2606-18 - Standard Practice for Receipt Notification as a Result of Tangible Asset Movement
• Effective Date: 01-Jul-2010
• Referred By: ASTM E2676-09(2020) - Standard Practice for Tangible Property Mobility Index (MI)
• Effective Date: 01-Jul-2010
• Referred By: ASTM E2499-18 - Standard Practice for Classification of Asset Location Information
• Effective Date: 01-Jul-2010
• Referred By: ASTM E3341-22 - Standard Guide for General Principles of Resilience
• Effective Date: 01-Jul-2010

Standards Content (Sample)

NOTICE: This standard has either been superseded and replaced by a new version or withdrawn.
Contact ASTM International (www.astm.org) for the latest information
Designation:E2135–10
Standard Terminology for
1
Property and Asset Management
This standard is issued under the fixed designation E2135; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision.Anumber in parentheses indicates the year of last reapproval.A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
1. Scope abandoned property, n—property of any type over which the
rightful owner has relinquished possession and any claim of
1.1 This terminology covers traditional property manage-
an ownership interest.
mentdefinitionsandsomeofthetermsintroducedinadditional
abandon, v—to give up all and any future claim to rights or
asset management standards that are used most often and
interest in property.
considered most important. As new standards are developed,
abatement—a reduction or cancellation of an assessed tax.
newtermswillbeaddedtothisterminologyinfuturerevisions.
ABC method—inventory management method that catego-
2. Referenced Documents rizes items in terms of importance. Thus, more emphasis is
2
placed on higher dollar value items (“A”s) than on lesser
2.1 ASTM Standards:
dollar value items (“B”s), while the least important items
E2221 Practice for Administrative Control of Property
(“C”s) receive the least time and attention. Inventory should
E2306 Practice for Utilization and Disposal of Personal
be analyzed frequently when using the ABC method. The
Property
procedure for ABC analysis follows: (1) Separate finished
E2452 Practice for Equipment Management Process Matu-
goods into types (chairs of different models, and so on);
rity (EMPM) Model
separate raw materials into types (screws, nuts, and so on).
E2453 Practice for Determining the Life-Cycle Cost of
(2) Calculate the annual dollar usage for each type of
Ownership of Personal Property
inventory (multiply the unit cost by the expected future
E2495 Practice for PrioritizingAsset Resources inAcquisi-
annual usage). (3) Rank each inventory type from highest to
tion, Utilization, and Disposition
lowest, based on annual dollar usage. (4) Classify the
E2606 Practice for Receipt Notification as a Result of
inventory as A—the top 20%; B—the next 30%; and
Tangible Property Movement
C—the last 50% of dollars usage, respectively. (5) Tag the
E2607 Practice for Cannibalization/Reclamation of Ser-
inventory with its appropriateABC classification and record
viceable Equipment Components to Support Demand Re-
those classifications in the item inventory master records.
quirements
abnormal spoilage—for government accounting under the
E2608 Practice for Equipment Control Matrix (ECM)
FAR, abnormal spoilage may or may not be allowable cost.
E2674 Practice for Assessment of Impact of Mobile Data
If the cost is deemed allowable, the cost would normally be
Storage Device (MDSD) Loss
charged consistently with normal spoilage.
E2675 Practice for Property Management System Out-
accelerated cost recovery system (ACRS)—systemofdepre-
comes
ciation for tax purposes mandated by the Economic Recov-
3. Terminology
eryAct (ERA) of 1981 and modified by theTax ReformAct
of1986.Thetypeofpropertydeterminesitsclass.Insteadof
3.1 Terms and Definitions:
providing statutory tables, prescribed methods of deprecia-
tion are assigned to each class of property. For 3, 5, 7, and
1
This terminology is under the jurisdiction of Committee E53 on Property
10-year classed, the relevant depreciation method is the
Management Systems and is the direct responsibility of Subcommittee E53.06 on
200% declining balance method. For 15 and 20-year prop-
Terminology.
erty, the appropriate method is the 150% declining balance
CurrenteditionapprovedJuly1,2010.PublishedJuly2010.Originallyapproved
´1
method switching to the straight-line method when it will
in 2001. Last previous edition approved in 2007 as E2135–07 . DOI: 10.1520/
E2135-10.
yieldalargerallowance.Forresidentialrentalproperty(27.5
2
For referenced ASTM standards, visit the ASTM website, www.astm.org, or
years) and nonresidential real property (31.5 years), the
contact ASTM Customer Service at [e-mail]. For Annual Book of ASTM
applicable method is the straight-line method. A taxpayer
Standards volume information, refer to the standard’s Document Summary page on
the ASTM website. maymakeanirrevocableelectiontotreatallpropertyinone
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959, United States.
1

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E2135–10
of the classes under the straight-line method. Property is condition of the property immediately before the damage.
statutorily placed in one of the classes. The purpose of actual cost—an amount determined on the basis of cost
ACRS is to encourage mo
...

This document is not anASTM standard and is intended only to provide the user of anASTM standard an indication of what changes have been made to the previous version. Because
it may not be technically possible to adequately depict all changes accurately,ASTM recommends that users consult prior editions as appropriate. In all cases only the current version
of the standard as published by ASTM is to be considered the official document.
´1
Designation:E2135–07 Designation:E2135–10
Standard Terminology for
1
Property and Asset Management
This standard is issued under the fixed designation E2135; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision.Anumber in parentheses indicates the year of last reapproval.A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
1
´ NOTE—Section 2 was added and terms were placed in Section 3 editorially in August 2009.
1. Scope
1.1 This terminology covers traditional property management definitions and some of the terms introduced in additional asset
management standards that are used most often and considered most important.As new standards are developed, new terms will
be added to this terminology in future revisions.
2. Referenced Documents
2
2.1 ASTM Standards:
E2221 Practice for Administrative Control of Property
E2306 Practice for Utilization and Disposal of Personal Property
E2452 Practice for Equipment Management Process Maturity (EMPM) Model
E2453 Practice for Determining the Life-Cycle Cost of Ownership of Personal Property
E2495 Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
E2606 Practice for Receipt Notification as a Result of Tangible Property Movement
E2607 Practice for Cannibalization/Reclamation of Serviceable Equipment Components to Support Demand Requirements
E2608 Practice for Equipment Control Matrix (ECM)
E2674 Practice for Assessment of Impact of Mobile Data Storage Device (MDSD) Loss
E2675 Practice for Property Management System Outcomes
3. Terminology
3.1 Terms and Definitions:
abandoned property—property of any type over which the rightful owner has relinquished possession and any claim of an
ownershipinterest,withoutassertionofanadverserighttopossessionandcontrolbythefederalgovernment.Thiswouldinclude
property left at a government facility and unclaimed by the rightful owner following notice of intent to dispose. This property
is a type of seized property. abandoned property, n—property of any type over which the rightful owner has relinquished
possession and any claim of an ownership interest.
abandonment—voluntary surrender of property, owned or leased, without naming a successor as owner or tenant. The property
will generally revert to a person holding a prior interest or, in cases where no owner is apparent, to the state. abandon, v—to
give up all and any future claim to rights or interest in property.
abandonment and destruction—occurs when the surplus personal property has reached the end of its useful life and no other
disposal options are available. E2306
abatement—a reduction or cancellation of an assessed tax.
ABC method—inventory management method that categorizes items in terms of importance. Thus, more emphasis is placed on
higherdollarvalueitems(“A”s)thanonlesserdollarvalueitems(“B”s),whiletheleastimportantitems(“C”s)receivetheleast
time and attention. Inventory should be analyzed frequently when using the ABC method. The procedure for ABC analysis
follows:(1)Separatefinishedgoodsintotypes(chairsofdifferentmodels,andsoon);separaterawmaterialsintotypes(screws,
nuts, and so on). (2) Calculate the annual dollar usage for each type of inventory (multiply the unit cost by the expected future
annual usage). (3) Rank each inventory type from highest to lowest, based on annual dollar usage. (4) Classify the inventory
1
ThisterminologyisunderthejurisdictionofCommitteeE53onPropertyManagementSystemsandisthedirectresponsibilityofSubcommitteeE53.06onTerminology.
Current edition approved June 15, 2007. Published July 2007. Originally approved in 2001. Last previous edition approved in 2006 as E2135–06a. DOI:
10.1520/E2135-07E01.
´1
Current edition approved July 1, 2010. Published July 2010. Originally approved in 2001. Last previous edition approved in 2007 as E2135–07 . DOI:
10.1520/E2135-10.
2
ForreferencedASTMstandards,visittheASTMwebsite,www.astm.org,[e-mail] Annual Book of ASTM Standards
volume information, refer to the standard’s Document Summary page on the ASTM website.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959, United States.
1

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E2135–10
as A—the top 20%; B—the next 30%; and C—the last 50% of dollars usage, respectively. (5) Tag the inventory with its
appropriate ABC classification and record those classifications in the item
...