Nations operational rateofexchange inordertoarriveatthenetexpendable income. Differences between thevaluation oft!:ecurrencies whenentered intothe accounts andwhenactualtransactions aremadeareaccounted forasgainsorlosses onexchange transactions. 9.Purchases andotherexpenses incurred bytheGreeting CardOperation are recorded inUnitedStatesdollars attheUnitedNations exchange rateineffectat thetimeofeachtransaction. Expenditures arecharged totheyearofincurrence ratherthanabsorbed intheyeartowhichtheybelong. 10.Capital assets (machinery andeauipment) atacostof$100,000 ormoreare capitalized anddepreciated overtheirestimated usefulperiod,rather thancharged toexpense accounts.8.Greeting CardOperation grossproceeds arerecoro~d inUnitedStatesdollars attheUnitedNations exchange ratesineffectattheendofthecampaign forsales reported bynational committees andothersalesoutlets. (Actual cashcollection isrecorded inUnitedStatesdollars attheUnitedNations rateineffectatthe timeremittances arereceived, usually attheendofAugust.)