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. The General Ledger Team is responsible for maintaining the Fixed Asset Register.