2010 ANNUAL REPORT - CMLTA

ALBERTA COLLEGE OF MEDICAL LABORATORY TECHNOLOGISTS
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2010
2. ACCOUNTING POLICIES (continued):
Cash and cash equivalents:
Cash and cash equivalents consist of balances with banks and short-term investments with
maturities not exceeding 90 days.
Use of estimates:
The preparation of financial statements in conformity with Canadian generally accepted
accounting principles requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the
date of the financial statements and the reported amounts of revenue and expenses during the
reporting period. Actual results could differ from those estimates.
3. PROPERTY AND EQUIPMENT:
The major categories of property and equipment and related accumulated amortization are as
follows:
Accumulated Net Book Value
Cost Amortization 2010 2009
Computer hardware $ 18,986 $ 12,011 $ 6,975 $ 9,242
Computer software 140,018 112,838 27,180 23,159
Office equipment and furniture 62,623 28,598 34,025 17,722
Leasehold improvements 14,755 14,755 - 1,475
$236,382 $168,202 $68,180 $51,598
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