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ASTM E 2453 : 2019

Current

Current

The latest, up-to-date edition.

Standard Practice for Estimating the Life-Cycle Cost of Ownership of Property Assets

Available format(s)

Hardcopy , PDF

Language(s)

English

Published date

01-05-2019

€49.35
Excluding VAT

This practice covers the establishment of a process consensus model for determining the life-cycle cost (LCC) of property assets owned or used by an entity.

Committee
E 53
DocumentType
Standard Practice
Pages
4
ProductNote
THIS STANDARD ALSO REFERS TO ASC 410, GAO-14-704G.
PublisherName
American Society for Testing and Materials
Status
Current
Supersedes

1.1This practice covers the establishment of a process consensus model for determining the life-cycle cost (LCC) of property assets owned or used by an entity.

1.1.1For businesses, these property assets are required to seek to achieve financial returns from producing and selling goods or services, or both.

1.1.2For institutions and agencies, these property assets are required to accomplish their primary mission.

1.2Real and personal property assets may include capital (fixed) assets and movable assets including customer-supplied assets, rental/leased assets, contract/project direct-purchased assets, or expense items.

1.3Asset service lives can be divided into three distinct stages, each with several separate yet interrelated substages: acquisition, utilization, and disposition. These primary stages are not intended to be all-encompassing but are offered as the basis for establishing LCC.

1.4This practice is expected to be primarily used for considering the life-cycle cost of personal property, however, the concept can and should be used for various types of assets including personal, real, tangible, and intangible.

1.5This practice does not supersede applicable generally accepted accounting principles but is intended to be consistent with the accounting principles particularly in the area of internal controls (see the GAO Green Book) and processes and requirements for estimating. Some life-cycle cost estimating may be required for accounting purposes. (See AS 2501.)

1.6This standard does not purport to address all of the safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to establish appropriate safety, health, and environmental practices and to determine the applicability of regulatory limitations prior to use.

1.7This international standard was developed in accordance with internationally recognized principles on standardization established in the Decision on Principles for the Development of International Standards, Guides and Recommendations issued by the World Trade Organization Technical Barriers to Trade (TBT) Committee.

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ASTM E 2135 : 2010 : REV A : EDT 2 Standard Terminology for Property and Asset Management
ASTM E 2135 : 2022 Standard Terminology for Property and Asset Management
ASTM E 2279 : 2009 Standard Practice for Establishing the Guiding Principles of Property Management
ASTM E 2135 : 2006 Standard Terminology for Property and Asset Management
ASTM E 2135 : 2010 : REV A : R2017 Standard Terminology for Property and Asset Management
ASTM E 2135 : 2010 : REV A : R2017 : EDT 1 Standard Terminology for Property and Asset Management
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