Saudi Aramco GI 202.330 CAPITAL ASSETS - SERVICE LIVES AND DEPRECIATION

This document is a Saudi Aramco General Instruction (GI) outlining policies related to Capital Assets, specifically focusing on service lives and depreciation. It details the guidelines and procedures for determining the useful economic life of capital assets and the methods for calculating their depreciation.

The instruction covers the essential principles for financial reporting and asset management within Saudi Aramco's extensive operations. It is intended for finance, accounting, and asset management personnel responsible for the accurate classification, valuation, and accounting treatment of fixed assets.

By understanding the content of this GI, users will gain insights into the systematic process of recognizing asset value erosion over time and its impact on financial statements. This knowledge is crucial for compliance with accounting standards and for effective financial planning and asset lifecycle management.

Ideal for accounting managers, financial analysts, and asset accountants working in the oil and gas industry or similar large-scale industrial organizations.