CPA PEP Prep Q&A

Not For Profit Organization Financial Reporting Review Webina

 
Picture of Lawrence Tan
Not For Profit Organization Financial Reporting Review Webina
by Lawrence Tan Send a message - 5 Feb 2017, 1:57 PM
 
Hi, Just want to ask anyone who knows if there are also accounting policy choices for intangible assets held by small organizations to expense an intangible asset acquired and just follow the disclosure requirements? The reason I asked is because under the tangible capital asset section 4431, small organizations (with average revenues recognized in the statement of operations for the current and preceding period of the organization and any entities that it controls is less than $500,000) have an accounting policy choices that they either capitalize or expense the tangible capital assets acquired. Thank you.




Picture of Jennifer Silva
Re: Not For Profit Organization Financial Reporting Review Webina
by Jennifer Silva Send a message - 5 Feb 2017, 7:28 PM
 
Section 4432 (intangible assets) has the same provision.


Picture of Lawrence Tan
Re: Not For Profit Organization Financial Reporting Review Webina
by Lawrence Tan Send a message - 6 Feb 2017, 1:22 PM
 


Thanks Jennifer. Do you have access to the Handbook? Up to now I still have no access to the Handbook. I have sent emails to both CPA BC and the Western School of Business asking them how can I download legally the Handbook now that I have registered for Capstone 1.

Picture of Jennifer Silva
Re: Not For Profit Organization Financial Reporting Review Webina
by Jennifer Silva Send a message - 18 Feb 2017, 11:00 PM
 

Hi Lawrence, 

You can access the handbook through secureexam installed on your computer (needed to write any of the tests).  There is a searchable pdf included that you must install as well.  You should have received instructions to download secureexam in your email shortly after registering and your username and password to install the software will be your student number (most likely, but it will be in the email).