This form is an official California Judicial Council form which complies with all applicable state codes and statutes. USLF updates all state forms as is required by state statutes and law.
Chula Vista California Non-Cash Assets on Hand at End of Account Period-Standard and Simplified Accounts Non-cash assets are an essential part of any financial statement as they represent valuable resources owned by Chula Vista, California at the end of an accounting period. These assets are referred to as non-cash as they do not involve physical currency or cash transactions. Instead, they comprise various forms of assets that contribute to the city's overall wealth and economic value. 1. Property, Plant, and Equipment (PPE): PPE refers to tangible assets owned by Chula Vista, such as land, buildings, infrastructure, vehicles, machinery, and equipment. These assets are long-term in nature and used to facilitate the city's operations or generate revenue over an extended period. 2. Intangible Assets: Chula Vista may also possess intangible assets with no physical substance but possess significant value. Examples include patents, trademarks, copyrights, software licenses, and brand names. These assets often provide unique advantages or legal protection, contributing to the city's overall financial standing. 3. Investments: Chula Vista may hold investments in the form of stocks, bonds, mutual funds, or other securities, representing ownership in other entities. These investments serve as a means to generate income, diversify the city's portfolio, or achieve specific financial goals. 4. Deferred Charges: Deferred charges represent upfront costs or expenses incurred by Chula Vista that will be recognized as assets over time. These charges encompass items like prepaid insurance, prepaid expenses, or costs related to long-term agreements such as leases or contracts. 5. Deferred Revenue: In some cases, Chula Vista may receive advance payments or deposits for goods or services that have not yet been delivered. These funds are accounted for as deferred revenue until the obligation is fulfilled, at which point they are recognized as revenue. It is important to note that the classification and valuation of these non-cash assets follow generally accepted accounting principles (GAAP) and may differ slightly between standard and simplified accounts based on the accounting methods used. Nonetheless, the presence of these non-cash assets reflects the city's financial capacity, growth potential, and overall economic well-being.Chula Vista California Non-Cash Assets on Hand at End of Account Period-Standard and Simplified Accounts Non-cash assets are an essential part of any financial statement as they represent valuable resources owned by Chula Vista, California at the end of an accounting period. These assets are referred to as non-cash as they do not involve physical currency or cash transactions. Instead, they comprise various forms of assets that contribute to the city's overall wealth and economic value. 1. Property, Plant, and Equipment (PPE): PPE refers to tangible assets owned by Chula Vista, such as land, buildings, infrastructure, vehicles, machinery, and equipment. These assets are long-term in nature and used to facilitate the city's operations or generate revenue over an extended period. 2. Intangible Assets: Chula Vista may also possess intangible assets with no physical substance but possess significant value. Examples include patents, trademarks, copyrights, software licenses, and brand names. These assets often provide unique advantages or legal protection, contributing to the city's overall financial standing. 3. Investments: Chula Vista may hold investments in the form of stocks, bonds, mutual funds, or other securities, representing ownership in other entities. These investments serve as a means to generate income, diversify the city's portfolio, or achieve specific financial goals. 4. Deferred Charges: Deferred charges represent upfront costs or expenses incurred by Chula Vista that will be recognized as assets over time. These charges encompass items like prepaid insurance, prepaid expenses, or costs related to long-term agreements such as leases or contracts. 5. Deferred Revenue: In some cases, Chula Vista may receive advance payments or deposits for goods or services that have not yet been delivered. These funds are accounted for as deferred revenue until the obligation is fulfilled, at which point they are recognized as revenue. It is important to note that the classification and valuation of these non-cash assets follow generally accepted accounting principles (GAAP) and may differ slightly between standard and simplified accounts based on the accounting methods used. Nonetheless, the presence of these non-cash assets reflects the city's financial capacity, growth potential, and overall economic well-being.
