How to Convince your Accountant that Asset Management is the Correct Choice for Infrastructure Under GASB 34

Government Accounting Standard Board Statement No. 34 gave state and local governments the choice of using depreciation or a modified approach when reporting on their infrastructure assets. The modified approach allows for an asset management system to be implemented. Despite much discussion between engineers and accountants, most often the accountant will choose depreciation over an asset management system. This article presents seven accounting arguments for engineers to persuade their accountants to try an asset management approach.