Section 4431 of the CPA Canada Handbook Contains a Provision

Section 4431 of the CPA Canada Handbook contains a provision applicable to not-for-profit organizations which grants an exemption from capitalizing and amortizing all their fixed assets. The exemption is applicable to:

A) not-for-profit organizations with fewer than ten employees.
B) not-for-profit organizations that have assets less than $1 million.
C) not-for-profit organizations that are unincorporated.
D) not-for-profit organizations whose two-year average annual revenues in their statement of operations are less than $500,000.