Difference between revisions of "IV.L. Capitalization Policy"

From BSC Policy
Jump to navigationJump to search
xx>Willkrantz
(new policy from 12/8/11 board meeting)
 
xx>Boardaa
(No difference)

Revision as of 12:25, 31 May 2012

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]]