ASTM E2135-10ae2

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 E2135-10ae1 - Standard Terminology for Property and Asset Management
• Effective Date: 15-Oct-2010
• Replaced By: ASTM E2135-10a(2017) - Standard Terminology for Property and Asset Management
• Effective Date: 01-May-2017
• 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 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 E2608-20 - Standard Practice for Equipment Control Matrix (ECM)
• 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 E2452-12(2019) - Standard Practice for Equipment Management Process Maturity (EMPM) Model
• Effective Date: 15-Oct-2010
• Referred By: ASTM E3298-21 - Standard Practice for Inventory by Exception (IBE)
• 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
´2
Designation: E2135 − 10a
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
ε NOTE—Section 2 was updated and terms were placed in Section 3 editorially in July 2013.
2
ε NOTE—Section 2 was updated and terms were placed in Section 3 editorially in August 2016.
1. Scope E2811Practice for Management of Low Risk Property
(LRP)
1.1 This terminology covers traditional property manage-
E2812Practice for Uniform Data Management in Asset
mentdefinitionsandsomeofthetermsintroducedinadditional
Management Records Systems
asset management standards that are used most often and
E2936Guide for Contractor SelfAssessment for U.S. Gov-
considered most important. As new standards are developed,
ernment Property Management Systems
newtermswillbeaddedtothisterminologyinfuturerevisions.
E2962Guide for Fleet Management
E3015GuideforManagementofCustomer-OwnedProperty
2. Referenced Documents
Assets in Possession of Supplier, Contractor or Subcon-
2
2.1 ASTM Standards:
tractor
E2221Practice for Administrative Control of Property
2.2 Other Documents:
3
(Withdrawn 2011)
Auditing Standard No. 2AnAudit of Internal Control Over
E2306Practice for Disposal of Personal Property
Financial Reporting Performed in Conjunction With an
E2452Practice for Equipment Management Process Matu-
4
Audit of Financial Statements
rity (EMPM) Model
Federal Acquisition Regulation (FAR) Part 45 Clause
E2453Practice for Determining the Life-Cycle Cost of
5
52.245-1Government Property
Ownership of Personal Property
6
GAO-12-331GGovernment Auditing Standards
E2495 Practice for Prioritizing Asset Resources in
International Standard on Assurance Engagements (ISAE)
Acquisition, Utilization, and Disposition
3402Assurance Reports on Controls at a Service Organi-
E2604Practice for Data Characteristics of EquipmentAsset
7
zation
Record
OMB Circular A-123Management’s Responsibility for In-
E2606Practice for Receipt Notification as a Result of
8
ternal Control
Tangible Asset Movement
E2607Practice for Cannibalization/Reclamation of Service-
3. Terminology
ableEquipmentComponentstoSupportDemandRequire-
3.1 Terms and Definitions:
ments
E2608Practice for Equipment Control Matrix (ECM)
abandon, v—to give up all and any future claim to rights or
E2674Practice for Assessment of Impact of Mobile Data
interest in property.
3
Storage Device (MDSD) Loss (Withdrawn 2015)
abandoned property, n—property of any type over which the
E2675Practice for Property Management System Outcomes
rightful owner has relinquished possession and any claim of
an ownership interest.
1
This terminology is under the jurisdiction of Committee E53 on Asset
Management and is the direct responsibility of Subcommittee E53.06 on Terminol-
4
ogy. Available from Public CompanyAccounting Oversight Board (PCAOB), 1666
Current edition approved Oct. 15, 2010. Published November 2010. Originally K Street, NW, Washington, DC 20006-2803, http://www.pcaobus.org.
ɛ1
5
approved in 2001. Last previous edition approved in 2010 as E2135–10a . DOI: Available from U.S. General Services Administration (GSA), 1800 F Street,
10.1520/E2135-10AE02. NW Washington, DC 20405, http://www.gsa.gov/regulations.
2 6
For referenced ASTM standards, visit the ASTM website, www.astm.org, or Available from U.S. Government Publishing Office (GPO), 732 N. Capitol St.,
contact ASTM Customer Service at [e-mail]. For Annual Book of ASTM NW, Washington, DC 20401-0001, http://www.gpo.gov.
7
Standards volume information, refer to the standard’s Document Summary page on Available from International Federation of Accountants (IFAC), 529 5th
the ASTM website. Avenue, New York, NY 10017, http://www.ifac.org.
3 8
The last approved version of this historical standard is referenced on Available from Office of Management and Budget (OMB), 725 17th Street,
www.astm.org. NW, Washington, DC 20503, http://www.whitehouse.gov/omb.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1

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E2135 − 10a
abatement, n—a reduction or cancellation of an assessed tax. accounting change, n—change in: (1) accounting principles
(such as a new depreciation method); (2) accounting esti-
ABC method, n—inventory management method that catego-
mates (such as a revised projection of doubtful accounts
rizes items in terms of importance. Thus, more emphasis is
receivable); or (3) the reporting entity (such as a merger of
placed on higher dol
...

This document is not an ASTM standard and is intended only to provide the user of an ASTM 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.
´2 ´2
Designation: E2135 − 10a E2135 − 10a
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. A number in parentheses indicates the year of last reapproval. A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
1
ε NOTE—Section 2 was updated and terms were placed in Section 3 editorially in July 2013.
2
ε NOTE—Section 2 was updated and terms were placed in Section 3 editorially in August 2016.
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:
3
E2221 Practice for Administrative Control of Property (Withdrawn 2011)
E2306 Practice for 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
E2604 Practice for Data Characteristics of Equipment Asset Record
E2606 Practice for Receipt Notification as a Result of Tangible Asset Movement
E2607 Practice for Cannibalization/Reclamation of Serviceable Equipment Components to Support Demand Requirements
E2608 Practice for Equipment Control Matrix (ECM)
3
E2674 Practice for Assessment of Impact of Mobile Data Storage Device (MDSD) Loss (Withdrawn 2015)
E2675 Practice for Property Management System Outcomes
E2811 Practice for Management of Low Risk Property (LRP)
E2812 Practice for Uniform Data Management in Asset Management Records Systems
E2936 Guide for Contractor Self Assessment for U.S. Government Property Management Systems
E2962 Guide for Fleet Management
E3015 Guide for Management of Customer-Owned Property Assets in Possession of Supplier, Contractor or Subcontractor
2.2 Other Documents:
Auditing Standard No. 2 An Audit of Internal Control Over Financial Reporting Performed in Conjunction With an Audit of
4
Financial Statements
5
Federal Acquisition Regulation (FAR) Part 45 Clause 52.245-1 Government Property
6
GAO-12-331G Government Auditing Standards
7
International Standard on Assurance Engagements (ISAE) 3402 Assurance Reports on Controls at a Service Organization
8
OMB Circular A-123 Management’s Responsibility for Internal Control
1
This terminology is under the jurisdiction of Committee E53 on Asset Management and is the direct responsibility of Subcommittee E53.06 on Terminology.
ɛ1
Current edition approved Oct. 15, 2010. Published November 2010. Originally approved in 2001. Last previous edition approved in 2010 as E2135 – 10a.E2135 – 10a .
DOI: 10.1520/E2135-10AE01.10.1520/E2135-10AE02.
2
For referenced ASTM standards, visit the ASTM website, www.astm.org, or contact ASTM Customer Service at [e-mail]. For Annual Book of ASTM Standards
volume information, refer to the standard’s Document Summary page on the ASTM website.
3
The last approved version of this historical standard is referenced on www.astm.org.
4
Available from Public Company Accounting Oversight Board (PCAOB), 1666 K Street, NW, Washington, DC 20006-2803, http://www.pcaobus.org.
5
Available from U.S. General Services Administration (GSA), 1800 F Street, NW Washington, DC 20405, http://www.gsa.gov/regulations.
6
Available from U.S. Government Publishing Office (GPO), 732 N. Capitol St., NW, Washington, DC 20401-0001, http://www.gpo.gov.
7
Available from International Federation of Accountants (IFAC), 529 5th Avenue, New York, NY 10017, http://www.ifac.org.
8
Available from Office of Management and Budget (OMB), 725 17th Street, NW, Washington, DC 20503, http://www.whitehouse.gov/omb.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1

---------------------- Page: 1 ----------------------
´2
E2135 − 10a
3. Terminology
3.1 Terms and Definitions:
abandon, v—to give up all and any future claim to rights or interest in property.
abandoned property, n—property of any type over which the rightful owner has relinquished possession and any claim of an
ownership interest.
abatement, n—a reduction or cancellation of an assessed tax.
A
...