IV.L. Capitalization Policy

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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]]