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Capital Assets Account and Long-Term Obligation Accounts

Michigan Department of Treasury Uniform Chart of Accounts
Capital Assets Account and Long-Term Obligation Accounts

Capital Assets Set of Accounts (900-949) and Long-term Obligations Set of Accounts (950-975)

Accounts 900-975 are provided for the purpose of facilitating record keeping relating to the difference between governmental fund modified accrual and government-wide accrual reporting.  Their use is not mandatory but is recommended for the purpose stated.  Other means of accumulating the required information, such as spreadsheets that become a permanent part of the accounting records, are acceptable.  One may also use one of these funds to track both long-term assets and liabilities.