Policies & Procedures Manual - Elizabeth City State University

400.1.56Adopted: 06/14/05New DefinitionELIZABETH CITY STATE UNIVERSITYFixed Assets- ComponentsComponents are a separate physical part of an asset that when added together with all thephysical parts would make up the whole asset. Separate physical parts of assets are not classifiedas components. The individual parts are classified as separate assets and are individuallyevaluated in determining if they should be recorded in the Fixed Assets System based on the$500/$5,000 threshold amounts.