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Governmental accounting system has changed from budgetary accounting on the basis of cash and bookkeeping by single entry to financial accounting on the basis of accrual and bookkeeping by double entry. In the context of this transition, infrastructure becomes considered an asset in accounting, and resulting accounting methods also take different approaches from conventional budgetary accounting. Financial accounting system defines expenditures into two categories, i.e. capital expenditure(CAPEX) and operation al expenditure(OPEX), and stipulates that the expenditure shall be divided into those two categories before accounting. The constr uction and expansion of infrastructure must be considered a CAPEX because it means a sort of asset acquisition, but with regard to applications in practical accounting, it is actually challenging to judge whether any expenditure associated with maintenance works (including repair and service) during use of infrastructure acquired shall be considered CAPEX or OPEX. This paper suggested an asset management based accounting method for sewer maintenance expenditure. And it applied the method to actual accounting cases and analyzed them in comparison with conventional financial information. As a case study result, Sewer asset value of S city increased approximately 700 hundred won because sewer maintenance expenditure are classified between OPEX and CAPEX according to the proposed accounting method. It is expected that the proposed accounting method will contribute significantly to providing any p roper sewer asset value information.Key words : Sewer, Asset Management, Maintenance, Capital Expenditure   ·    ·                    .          ,                ,        ,        ( )    .               ,         .                          ,            .      S    700   ,                      .                 . : , , , Construction Management

An Asset Management based Accounting Method for Sewer Maintenance Expenditure