ASTM E2135-10ae1

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: 14-Oct-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 E2135-10a - Standard Terminology for Property and Asset Management
• Effective Date: 15-Oct-2010
• Replaced By: ASTM E2135-10ae2 - Standard Terminology for Property and Asset Management
• Effective Date: 15-Oct-2010
• Referred By: ASTM E2812-17 - Standard Practice for Uniform Data Management in Asset Management Records Systems
• Effective Date: 15-Oct-2010
• Referred By: ASTM E2306-18 - Standard Guide for Disposal of Personal Property Assets
• Effective Date: 15-Oct-2010
• Referred By: ASTM E3035-15(2020) - Standard Classification for Facility Asset Component Tracking System (FACTS)
• Effective Date: 15-Oct-2010
• Referred By: ASTM E2378-19 - Standard Practice for the Recognition of Impaired or Retired Property Assets
• Effective Date: 15-Oct-2010
• Referred By: ASTM E2671-10(2016) - Standard Practice for Defining Movements, Shipments, and Transfers of Tangible Property
• Effective Date: 15-Oct-2010
• Referred By: ASTM E2495-18 - Standard Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
• Effective Date: 15-Oct-2010
• Referred By: ASTM E2608-20 - Standard Practice for Equipment Control Matrix (ECM)
• Effective Date: 15-Oct-2010
• Referred By: ASTM E3015-15(2020) - Standard Guide for Management of Customer-Owned Property Assets in Possession of Supplier, Contractor or Subcontractor
• Effective Date: 15-Oct-2010
• Referred By: ASTM E3298-21 - Standard Practice for Inventory by Exception (IBE)
• Effective Date: 15-Oct-2010
• Referred By: ASTM E2631-20 - Standard Practice for Physical Placement of an Entity-Controlled Supplemental Identification Label
• Effective Date: 15-Oct-2010
• Referred By: ASTM E3257-21 - Standard Practice for Asset Taxonomy
• Effective Date: 15-Oct-2010
• Referred By: ASTM E2936-20 - Standard Guide for Contractor Self-Assessment for U.S. Government Asset Management Systems
• Effective Date: 15-Oct-2010
• Referred By: ASTM E2607-21 - Standard Practice for Cannibalization/Reclamation of Serviceable Equipment Components to Support Demand Requirements
• Effective Date: 15-Oct-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
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Designation: E2135 − 10a
StandardTerminology for
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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.
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ε NOTE—Section 2 was updated and terms were placed in Section 3 editorially in July 2013.
1. Scope E2812Practice for Uniform Data Management in Asset
Management Records Systems
1.1 This terminology covers traditional property manage-
mentdefinitionsandsomeofthetermsintroducedinadditional
3. Terminology
asset management standards that are used most often and
considered most important. As new standards are developed, 3.1 Terms and Definitions:
newtermswillbeaddedtothisterminologyinfuturerevisions.
abandon, v—to give up all and any future claim to rights or
interest in property.
2. Referenced Documents
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2.1 ASTM Standards: abandoned property, n—property of any type over which the
E2221Practice for Administrative Control of Property
rightful owner has relinquished possession and any claim of
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(Withdrawn 2011) an ownership interest.
E2306Practice for Disposal of Personal Property
abatement, n—a reduction or cancellation of an assessed tax.
E2452Practice for Equipment Management Process Matu-
rity (EMPM) Model
ABC method, n—inventory management method that catego-
E2453Practice for Determining the Life-Cycle Cost of
rizes items in terms of importance. Thus, more emphasis is
Ownership of Personal Property
placed on higher dollar value items (“A”s) than on lesser
E2495 Practice for Prioritizing Asset Resources in
dollar value items (“B”s), while the least important items
Acquisition, Utilization, and Disposition
(“C”s) receive the least time and attention. Inventory should
E2604Practice for Data Characteristics of Equipment Re-
be analyzed frequently when using the ABC method. The
cords
procedure for ABC analysis follows: (1) Separate finished
E2606Practice for Receipt Notification as a Result of goods into types (chairs of different models, and so on);
Tangible Property Movement
separate raw materials into types (screws, nuts, and so on).
E2607Practice for Cannibalization/Reclamation of Service- (2) Calculate the annual dollar usage for each type of
ableEquipmentComponentstoSupportDemandRequire-
inventory (multiply the unit cost by the expected future
ments
annual usage). (3) Rank each inventory type from highest to
E2608Practice for Equipment Control Matrix (ECM)
lowest, based on annual dollar usage. (4) Classify the
E2674Practice for Assessment of Impact of Mobile Data
inventory as A—the top 20%; B—the next 30%; and
Storage Device (MDSD) Loss
C—the last 50% of dollars usage, respectively. (5) Tag the
E2675Practice for Property Management System Outcomes
inventory with its appropriateABC classification and record
E2811Practice for Management of Low Risk Property
those classifications in the item inventory master records.
(LRP)
abnormal spoilage, n—for government accounting under the
FAR, abnormal spoilage may or may not be allowable cost.
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This terminology is under the jurisdiction of Committee E53 on Asset
If the cost is deemed allowable, the cost would normally be
Management and is the direct responsibility of Subcommittee E53.06 on Terminol-
charged consistently with normal spoilage.
ogy.
Current edition approved Oct. 15, 2010. Published November 2010. Originally
accelerated cost recovery system (ACRS), n—system of
approved in 2001. Last previous edition approved in 2010 as E2135–10a. DOI:
depreciation for tax purposes mandated by the Economic
10.1520/E2135-10AE01.
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Recovery Act (ERA) of 1981 and modified by the Tax
For referenced ASTM standards, visit the ASTM website, www.astm.org, or
contact ASTM Customer Service at [e-mail]. For Annual Book of ASTM
Reform Act of 1986. The type of property determines its
Standards volume information, refer to the standard’s Document Summary page on
class. Instead of providing statutory tables, prescribed meth-
the ASTM website.
3
ods of depreciation are assigned to each class of property.
The last approved version of this historical standard is referenced on
www.astm.org. For 3, 5, 7, and 10-year classed, the relevant depreciation
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E2135 − 10a
method is the 200% declining balance method. For 15 and acquisition, n—hardware, supplies or services through
20-year property, the appropriate method is the 150% purchase, lease, or other means, including transfer or
declining balance method switching to the
...