View source for IV.L. Capitalization Policy

To capitalize a purchase, the item being purchased shall meet all of the following requirements:

:1.	The asset is tangible and complete. 
:2.	The asset is used in the operation of the Berkeley Student Cooperative’s activities. 
:3.	The asset has a useful life longer than a year. 
:4.	The asset is of significant value, defined as having a purchase price greater than $500. 
:5.	A bulk purchase of furniture, fixture, and equipment (as defined by GAAP) shall be capitalized if it’s purchased for the renovation or creation of a new unit. 
:6.	This policy does not apply to assets placed in service before 2/29/2012.


''[Board Approved 12/8/11]]''
[[Category:Section IV - Finances]] [[Category:Policy]]