[BCMA] Accounting Question

[Moderated BCMA subscriber listserv.]

We have not been told this by our accounting firm, and they're currently
working on our 2019 year end statements. Did your firm indicate who
required this information?

Bulkley Valley Museum
PO Box 2615
1425 Main Street
Smithers, BC
V0J 2N0

250-847-5322
info at bvmuseum.org


On Mon, Mar 9, 2020 at 10:38 AM Moderated BCMA subscriber listserv. <
bcma at lists.vifa.ca> wrote:

> Hi friends …
>
> I am wondering if anyone else has been told by their accounting firms that
> as of 2019 Museums and Galleries now have to account for the value of their
> permanent collections when doing their yearend?
>
> We were told we have three options:
>
> 1) get the whole collection appraised
> 2) include the value of all the tax receipts given and purchases made
> 3) provide a nominal value per item and multiply the entire value by the
> number of items in the collection.
>
> I am wondering if anyone else has heard of this change and if so what are
> the thoughts of the community as we have never accounted for the value of
> our permanent collection on our books previously.
>
> Thank you for your time and input.
>
> I look forward to your reply.
>
> Paul F. Crawford
>
> Director/Curator
>
> Penticton Art Gallery
>
> 199 Marina Way
>
> Penticton, B.C.
>
> V2A 1H5 Canada
>
> Phone: (250) 493-2928
> Email: curator at pentictonartgallery.com
>
> Web: www.pentictonartgallery.com
>
> On the unceded territory of the Syilx (Okanagan) Peoples.
>
>
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>
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