Military Equipment to General Equipment

As of October 1, 2013, the definition of Military Equipment (ME) was rescinded. Equipment formerly known as ME will still need to follow the accounting procedures that were applied up to September 30, 2013. From October 1, 2013 and forward, the current valuation and accounting techniques should be applied. All former ME is reported as General Equipment (GE) in the General Property Plant and Equipment (GPP&E) portion of the balance sheet. Additional information regarding the valuation procedures for valuing capital equipment can be found on the valuation techniques page and the valuation guidance page.

One of the biggest changes by removing this definition is expanding the scope of Proper Financial Accounting Treatment for Military Equipment, or PFAT4ME. This same process will now need to be applied to any equipment that meet the financial reporting criteria.

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