Amortization Calculation Tools
The Historical Amortization Calculation Tool and Custom Amortization Calculation Tool were developed for school districts to calculate amortization for capital assets and deferred capital contributions at a point of time. At June 30, 2005 responsibility for maintaining these tools was passed from Ministry of Education staff to school district staff.
The Historical Amortization Calculation Tool was developed to calculate amortization figures beginning with the implementation of full GAAP at July 1, 2004.
The Custom Amortization Calculation Tool was designed to assist school districts with financial reporting. In contrast to the Historical Amortization Calculation Tool, which is populated with figures from the school districts' audited financial statements, the Custom Amortization Calculation Tool is unpopulated to facilitate calculations for unique circumstances.
The Custom Amortization Calculation Tool provides a calculator that allows entry of up to 25 asset classes. Amortization calculations can be customized for each asset class by assigning the applicable expected life and applying, as required, deemed disposals.
The Custom Amortization Calculation Tool will provide amortization schedules and annual journal entries for each asset class.