Part III - UNM Finance: Practical Applications

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Standard Accounting Resource Manual (SARM)

MSC 0000 00
1 University of New Mexico
Albuquerque, NM 87131

Maintenance, Repair, or Renovation?

When one company is hired to make significant changes in a physical space, you have a renovation.  When a company is hired primarily to make a worn space look better by applying new paint or replacing worn carpets, you have maintenance.  When damaged areas are being repaired, such as replacing panes on a broken window, or replacing sagging ceiling tiles caused by a roof leak, you have a repair. 

If you are in doubt about the correct account call Inventory Control, explain the details of your situation, and ask them for the correct account.