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Section PS 3150 - Tangible capital assets

Effective date:

September 1, 1997, except for subsequent amendments.

Published by the PSAB:

September 1997


This Section establishes standards on how to account for and report tangible capital assets in government financial statements.

Tangible capital assets are non-financial assets having physical substance that:

  1. are held for use in the production or supply of goods and services, for rental to others, for administrative purposes or for the development, construction, maintenance or repair of other tangible capital assets;
  2. have useful economic lives extending beyond an accounting period;
  3. are to be used on a continuing basis; and
  4. are not for sale in the ordinary course of operations.

Tangible capital assets should be accounted for and reported as assets and recorded at cost on the statement of financial position.

The cost, less any residual value, of a tangible capital asset with a limited life should be amortized over its useful life in a rational and systematic manner appropriate to its nature and use by the government.  The amortization of the costs of tangible capital assets should be accounted for as expenses in the statement of operations.

History of Section PS 3150




September 1997

New Section

This Section establishes standards on how to account for and report tangible capital assets in government financial statements.

September 2006

Revised Section

This revised Section replaces previous Section PS 3150 Tangible capital assets.

The Section now applies to all levels of government. It applies to local governments for fiscal years beginning on or after January 1, 2009.

Note: The above summary does not include details of consequential amendments made as the result of other projects.

Public Sector Accounting Discussion Group meetings

  • November 17, 2017 - Sections PS 1000, PS 1201 and PS 3150: Green Infrastructure
  • October 27, 2015 - Section PS 3150: Acquisition and Development of Software Associated with Cloud Computing

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.