Your understand is correct. We have specific accounts for asset greater than 5000, less than $10K and useful life more than one year for tracking these assets.
More clarification:
1) Assets greater than Baht 5000 and less than USD 10K controlled via excel as mass asset, we summary report yearly & calculate depreciation for supporting Tax report.
2) Since our report is THB value, So, we have specific USD 10,000 equivalent to THB300,000 in our Local Procedure, and use this amount as a threshold for capitalization. I understand that it’s not $10K correctly, but I don’t think it’s an error or wrong to CCL requirements. However, please advise if you have any comment/concern. And sorry that we have missing this information when the process was migrated to you. We always mentioned $10K, and forgot to confirm you that we have specific this amount in THB as 300,000THB. So, it made some confusions to you.