This tool contains three sample policies that establish guidelines and procedures for reviewing and understanding an organization’s fixed assets.

In these samples, capital assets include equipment, property, furniture, fixtures and leasehold improvements that are acquired by the company in the normal course of business. Capital assets have a useful life of at least one year. Computer software purchased for internal use is considered a capital asset. Computer software internally developed for internal use or resale is not addressed in this policy statement. All capitalized assets should be depreciated using the straight-line method over their estimated useful lives.