What Is GASB 35?

A Summary of GASB 35 An independent, not-for-profit organization, the Government Accounting Standards Board (GASB) was established in 1984. The GASB strives to improve financial accounting and reporting standards for state and local governments and public institutions. The standards provide financial information in response to the needs of the citizenry, legislative and oversight bodies, and investors …

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What Is GASB 34?

A Summary of GASB 34  The Government Accounting Standards Board (GASB) is an independent, not-for-profit organization. Established in 1984, the GASB works to improve financial accounting and reporting standards for state and local governments. One of the GASB’s statements, number 34, requires government entities to report infrastructure assets in their statement of net assets. Put forth …

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What is Piping and Instrumentation Diagram (P&ID)?

A Definition of P&ID  A piping and instrumentation diagram (P&ID) is a drawing in the process industry. A P&ID shows all piping, including the “physical sequence of branches, reducers, valves, equipment, instrumentation and control interlocks.” A P&ID is used to operate the process system, since it shows the piping of the process flow along with …

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U.S. DoD Reaffirms Its Commitment to Item Unique Identification

The U.S. Department of Defense (DoD) recently updated its instructions regarding Item Unique Identification (IUID) standards for tangible personal property. With this publication, the DoD renews its efforts to identify and manage millions of its critical assets. While there were no major changes, there were some significant revisions that Camcode wanted to highlight. Here are …

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What Is Property ID?

A Definition of Property ID Property identification involves labeling inventory and company assets with property identification tags or ID labels to prevent theft and streamline processes. Property managers are able to work much more efficiently when companies make use of property identification and ID labels. Property ID also increases staff productivity and improves service. Examples …

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