Aruz Petcherdchoo, Pattanant Petchchedchoo, Siridech Kumsuprom
International accounting standards significantly serves as a guideline for recognition and measurement of assets. Organizations, thus, is suggested to put a group of cross-disciplinary experts together with different approaches for specific purposes of making assumptions in reassessment of the values of assets, and inferring appropriate accounting numbers via a wide variety of estimation methods such as engineering or statistical approach. This paper attempts to apply a probabilistic approach to the application of time-based corrosion to suggest a model for accounting treatment on measurement of the infrastructure from the perspectives of engineering and statistical disciplines. Researchers principally undertake this study in combination of Crank-Nicolson finite difference scheme with the Latin Hypercube algorithm. A model with four-random variables, including surface chloride, diffusion coefficient, concrete cover depth, and critical chloride value, is constructed. On the probabilistic analysis, the CDF of critical time, or the probability that the content of chloride ions at the cover depth appears more than or equal to the critical chloride value while normal concrete is found to be effectively identical with that for FA concrete despite certain diversity in mean and standard deviation respectively. Still and all, the expected cumulative cost for critical time of reinforcement corrosion occurrence of normal concrete indicates obviously lower than that of FA concrete. A possible explanation for this might be that higher cover depth of FA concrete leads to higher expected cost. The results from this study provide a substantial framework for decision-makers toward measuring assets value and prioritizing annual budget allocations for management of concrete structures exposed to chloride environment.