IV.L. Capitalization Policy

From BSC Policy
Revision as of 19:24, 14 September 2021 by Ellie (talk | contribs) (add policy and finances categories)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigationJump to search

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]]