What constitutes a common good asset and how such assets differ from property or land owned by a local authority.

Common good originated as revenues from properties belonging to the early burghs of Scotland. Essentially, the common good denoted all property of a Burgh not acquired under statutory powers or held under special trusts. Historically, the common good became an addition to the main revenues and the Local Government (Scotland) Act 1947 empowered counties and burghs without a common good fund to set up a reserve to promote the general good of the inhabitants or dignity of the burgh.
Common good assets belonging to the burghs of Scotland were incorporated into the new local government bodies set up under local government reform in 1975 and 1994 when the burghs became part of district and regional councils and then councils.
Due to the historical, non-statutory, nature of the common good, a judgement on what may constitute a common good asset as opposed to property or land owned by a local authority may have to be made by the courts.
All local authorities are required, by the Local Government in Scotland Act 2003, to adhere to proper accounting practice and the Code of Practice on Local Authority Accounting in the United Kingdom – Statement of Recommended Practice requires that common good accounts should be shown separately.