ASTM E2135-22
(Terminology)Standard Terminology for Property and Asset Management
Standard Terminology for Property and Asset Management
SCOPE
1.1 This terminology covers traditional property management definitions and some of the terms introduced in additional asset management standards that are used most often and considered most important. As new standards are developed, new terms will be added to this terminology in future revisions.
1.2 This 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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This 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.
Designation: E2135 − 22
Standard Terminology for
1
Property and Asset Management
This standard is issued under the fixed designation E2135; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision.Anumber in parentheses indicates the year of last reapproval.A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
1. Scope E2604PracticeforDataCharacteristicsofPersonalProperty
Asset Record
1.1 This terminology covers traditional property manage-
E2606Practice for Receipt Notification as a Result of
mentdefinitionsandsomeofthetermsintroducedinadditional
Tangible Asset Movement
asset management standards that are used most often and
E2607Practice for Cannibalization/Reclamation of Service-
considered most important. As new standards are developed,
ableEquipmentComponentstoSupportDemandRequire-
newtermswillbeaddedtothisterminologyinfuturerevisions.
ments
1.2 This international standard was developed in accor-
E2608Practice for Equipment Control Matrix (ECM)
dance with internationally recognized principles on standard-
E2674Practice for Assessment of Impact of Mobile Data
ization established in the Decision on Principles for the 3
Storage Device (MDSD) Loss (Withdrawn 2015)
Development of International Standards, Guides and Recom-
E2675Practice for Asset Management System Outcomes
mendations issued by the World Trade Organization Technical
E2715Practice for Moveable Property Storage
Barriers to Trade (TBT) Committee.
E2811Practice for Management of Low Risk Property
(LRP)
2. Referenced Documents
E2812Practice for Uniform Data Management in Asset
2
2.1 ASTM Standards:
Management Records Systems
E2132Practice for Inventory Verification: Electronic and
E2936Guide for Contractor Self-Assessment for U.S. Gov-
Physical Inventory of Assets
ernment Asset Management Systems
E2221Practice for Administrative Control of Property
E2962Guide for Fleet Management
3
(Withdrawn 2011)
E3015GuideforManagementofCustomer-OwnedProperty
E2279Practice for Establishing the Guiding Principles of
Assets in Possession of Supplier, Contractor or Subcon-
Property Asset Management
tractor
E2306Guide for Disposal of Personal Property Assets
E3221Guide for Motorized Equipment
E2378Practice for the Recognition of Impaired or Retired
E3257Practice for Asset Taxonomy
Property Assets
2.2 Other Documents:
E2452Practice for Equipment Management Process Matu-
Auditing Standard No. 2AnAudit of Internal Control Over
rity (EMPM) Model
Financial Reporting Performed in Conjunction With an
4
E2453Practice for Estimating the Life-Cycle Cost of Own-
Audit of Financial Statements
ership of Property Assets
Federal Acquisition Regulation (FAR) Part 45 Clause
5
E2495 Practice for Prioritizing Asset Resources in
52.245-1Government Property
6
Acquisition, Utilization, and Disposition
GAO-12-331GGovernment Auditing Standards
E2499PracticeforClassificationofAssetLocationInforma-
GAO-18-295Heavy Equipment: Selected Agencies Should
6
tion
Improve Guidance for Purchases and Leases
International Standard on Assurance Engagements (ISAE)
3402Assurance Reports on Controls at a Service Organi-
1
This terminology is under the jurisdiction of Committee E53 on Asset
7
zation
Management and is the direct responsibility of Subcommittee E53.06 on Terminol-
ogy.
CurrenteditionapprovedJune1,2022.PublishedJuly2022.Originallyapproved
ɛ1
4
in 2001. Last previous edition approved in 2017 as E2135–10a (2017) . DOI: Available from Public CompanyAccounting Oversight Board (PCAOB), 1666
10.1520/E2135-22. K Street, NW, Suite 300, Washington, DC 20006-2803, http://www.pcaobus.org.
2 5
For referenced ASTM standards, visit the ASTM website, www.astm.org, or Available from U.S. General Services Administration (GSA), 1800 F Street,
contact ASTM Customer Service at service@astm.org. For Annual Book of ASTM NW, Washington, DC 20405, http://www.gsa.gov/regulations.
6
Standards volume information, refer to the standard’s Document Summary page on Available from U.S. Government Accountability Office, 441 G St., NW,
the ASTM website. Washington, DC 20548, http://www.gao.gov.
3 7
The last approved version of this historical standard is referenced on Available from International Federation of Accountants (IFAC), 529 5th
www.astm.org. Avenue, New York, NY 10017, http://www.ifac.org.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1
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E2135 − 22
OMB Circular A-123Management’s Responsibility for In- 20-year property, the appropriate method is the 150%
8
te
...
This document is not an ASTM standard and is intended only to provide the user of an ASTM standard an indication of what changes have been made to the previous version. Because
it may not be technically possible to adequately depict all changes accurately, ASTM recommends that users consult prior editions as appropriate. In all cases only the current version
of the standard as published by ASTM is to be considered the official document.
´1
Designation: E2135 − 10a (Reapproved 2017) E2135 − 22
Standard Terminology for
1
Property and Asset Management
This standard is issued under the fixed designation E2135; the number immediately following the designation indicates the year of
original adoption or, in the case of revision, the year of last revision. A number in parentheses indicates the year of last reapproval. A
superscript epsilon (´) indicates an editorial change since the last revision or reapproval.
1
ε NOTE—Section 2 was updated and terms were placed in Section 3 editorially in March 2019.
1. Scope
1.1 This terminology covers traditional property management definitions and some of the terms introduced in additional asset
management standards that are used most often and considered most important. As new standards are developed, new terms will
be added to this terminology in future revisions.
1.2 This 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.
2. Referenced Documents
2
2.1 ASTM Standards:
E2132 Practice for Inventory Verification: Electronic and Physical Inventory of Assets
3
E2221 Practice for Administrative Control of Property (Withdrawn 2011)
E2279 Practice for Establishing the Guiding Principles of Property Asset Management
E2306 Guide for Disposal of Personal Property Assets
E2378 Practice for the Recognition of Impaired or Retired Property Assets
E2452 Practice for Equipment Management Process Maturity (EMPM) Model
E2453 Practice for Estimating the Life-Cycle Cost of Ownership of Property Assets
E2495 Practice for Prioritizing Asset Resources in Acquisition, Utilization, and Disposition
E2499 Practice for Classification of Asset Location Information
E2604 Practice for Data Characteristics of Personal Property Asset Record
E2606 Practice for Receipt Notification as a Result of Tangible Asset Movement
E2607 Practice for Cannibalization/Reclamation of Serviceable Equipment Components to Support Demand Requirements
E2608 Practice for Equipment Control Matrix (ECM)
3
E2674 Practice for Assessment of Impact of Mobile Data Storage Device (MDSD) Loss (Withdrawn 2015)
E2675 Practice for Asset Management System Outcomes
E2715 Practice for Moveable Property Storage
E2811 Practice for Management of Low Risk Property (LRP)
E2812 Practice for Uniform Data Management in Asset Management Records Systems
E2936 Guide for Contractor Self-Assessment for U.S. Government Asset Management Systems
E2962 Guide for Fleet Management
1
This terminology is under the jurisdiction of Committee E53 on Asset Management and is the direct responsibility of Subcommittee E53.06 on Terminology.
Current edition approved May 1, 2017June 1, 2022. Published May 2017July 2022. Originally approved in 2001. Last previous edition approved in 2017 as E2135 – 10a
ɛ1
(2017).(2017) . DOI: 10.1520/E2135-10AR17E01.10.1520/E2135-22.
2
For referenced ASTM standards, visit the ASTM website, www.astm.org, or contact ASTM Customer Service at service@astm.org. For Annual Book of ASTM Standards
volume information, refer to the standard’s Document Summary page on the ASTM website.
3
The last approved version of this historical standard is referenced on www.astm.org.
Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959. United States
1
---------------------- Page: 1 ----------------------
E2135 − 22
E3015 Guide for Management of Customer-Owned Property Assets in Possession of Supplier, Contractor or Subcontractor
E3221 Guide for Motorized Equipment
E3257 Practice for Asset Taxonomy
2.2 Other Documents:
Auditing Standard No. 2 An Audit of Internal Control Over Financial Reporting Performed in Conjunction With an Audit of
4
Financial Statements
5
Federal Acquisition Regulation (FAR) Part 45 Clause 52.245-1 Government Property
6
GAO-12-331G Government Auditing Standards
6
GAO-18-295 Heavy Equipment: Selected Agencies Should Improve Guidance for Purchases and Leases
7
International Standard on Assurance Engagements (ISAE) 3402 Assurance Reports on Controls at a Service Organization
8
OMB Circular A-123 Management’s Responsibility for Internal Control
3. Terminology
3.1 Terms and Definitions:
abandon, v—to give up all and any future claim to rights or interest in property.
abandoned property, n—property of any type over which the rightful owner has r
...
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