ASTM E2378
Standard Practice for the Recognition of Impaired or Retired Property Assets
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About This Item
ASTM E2378 is the ASTM standard titled Standard Practice for the Recognition of Impaired or Retired Property Assets. It provides a practical framework for identifying when property assets may no longer be fully serviceable or should be treated as retired, helping organizations support consistent asset decisions. By offering a recognized practice for recognition, this standard can improve documentation, internal control, and financial or operational review of asset condition.
Overview of ASTM E2378
The purpose of ASTM E2378 is to guide the recognition of property assets that are impaired or retired, using a standardized practice rather than ad hoc judgment alone. In a property management or asset accounting context, this can help users apply more consistent criteria when evaluating whether an asset should remain in service, be removed from active use, or be treated differently in records. ASTM E2378 is therefore useful where clear, repeatable recognition practices matter.
Common use cases of ASTM E2378
ASTM E2378 is commonly relevant in organizations that manage long-lived property assets and need a reliable way to assess asset status over time. It may be used during asset reviews, inventory reconciliation, retirement analysis, or impairment evaluation when a property asset shows signs of reduced utility, obsolescence, or removal from service. The standard is especially helpful where recordkeeping, audit support, and consistent internal procedures are important.
Benefits of using ASTM E2378
Using ASTM E2378 can support more consistent asset recognition decisions and reduce uncertainty in property asset management. It may help teams align internal practices with a recognized ASTM standard, improving documentation quality and supporting compliance-oriented workflows. For organizations handling asset records, the standard can also aid in risk reduction by encouraging clearer identification of impaired or retired property assets and more dependable decision-making.
- Recognition of impaired property assets
- Recognition of retired property assets
- Consistent asset review practices
- Support for recordkeeping and audit readiness
- Useful for property asset management workflows
- Publication Date: 2019-05-30
- Publisher: ASTM
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