Are "missiles" considered as assets according to the accounting standards?

Question

Kindly provide the links from where I can get substantial amount of information, if you can. Thank You.

Answer 1

In accordance with (IAW) accounting standards, no. When they are built they are considered an asset to the extent they are an expendable resource, regardless if they're used or not. Go to the Govt Accounting Office (GAO) on-line you can read it for yourself.

Answer 2

Possible expanding on previous answer, wouldn't missiles be counted as "supplies"? Items to be used (basically disposable) like pencils and paper in an office setting.