The CICA Handbook requires large not-for-profit organizations to ________.

Question

Quizplus · Accepted Answer

The CICA Handbook requires large not-for-profit organizations to capitalize and amortize the capital assets. This means that the organization must record the cost of the asset as an asset on the balance sheet and then gradually reduce the value over its useful life through depreciation or amortization. This is done to accurately reflect the consumption of the asset over time and ensure the financial statements give a true and fair view of the organization's financial position.

The CICA Handbook Requires Large Not-For-Profit Organizations to ________