Fixed Asset and LB&E Issues   0018-09   ZZall

                                              - - - Rejoice in the Lord always ... again I say Rejoice !!! - - -


                             TO: Interested Ministries                                                                                    FROM: Jim Bramer, Retired CPA-Auditor
                                                                                                                                                               FILE: 0018-09/all

                              RE: Fixed Asset & LB&E Issues                                                                    Originated:  December 1999                                  


                                      Please find below a number of Writings related to Land, Buildings, Equipment (LB&E) and Fixed Assets issues.

0033 - FIXED ASSET ACCOUNTABILITY

    Explains why such an effort is needed.  Ask us at Jim@bcidot.org  about having the Fixed Assets appearing with QB's 01-Photo Proof, but not affecting your Fund Balances.  Also about the potential of such accounts being 'hidden' until year end. Please go to  0102  for more information on this topic.

0111 - THREE LEGGED ACCOUNTING

     An Email dialog which discusses how "Three Legged" entries are intended to simultaneously update the GPFund budget and also reflect the Fixed Asset Procurements and Debt Service entries for LB&E accounting purposes.

0112 - IMPREST ACCOUNTS

      Statements include the use of Imprest Bank Accounts to be used for Facility construction efforts.

0124 - CONSTRUCTION AND LB & EQUIPMENT

       An Email dialog that covers some of the aspects of funding and accounting for Ministry Facility Construction.

0125 - DEPRECIATION EXPENSE AND MINISTRIES

        An Email dialog that provides some GAAP reasons, rationale and 'how to' information.

0126 - MINISTRY AND DEBT

         An Email dialog where righteous Ministry debt is discussed.

0127 - CURRENT-DORMANT SETS OF BOOKS

       An Email dialog about two sets of books; one for the usual day-to-day Operations (Current) and another for the Land, Building and Equipment , plus applicable Debt (Dormant).

0030 - THREE PRONG FUNDING APPROACH

       Some Ministries have taken the approach that all fees pay for Operating Expenses; and any net profit from retail-like stores and all Donations (including any Estate Income) is used to fund Land & Building acquisition and/or improvements.       


   This publication originated in December 1999 and was .  UPTD: May 23, 2010  

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