Capital equipment is:
Physical property with an acquisition value of $5,000 or more and a useful life expectancy (UEL) of more than one year.
Fabricated equipment, which has an aggregate value of $5,000 or more and a UEL of more than one year.
A collection of purchases which have an aggregate value of $5,000 or more which is to be used over the same period of time (more than one year) e.g. library books.
Capital equipment is not expensed at the time of purchase and will instead be recognized as a Fixed Asset over its UEL.
Items purchased at the same time which have an aggregate value of $5,000 or more
In order for a purchase to qualify as a fixed asset, it needs to meet the threshold for cost to the University of exceeding $5,000.
...