26 July 2016
1)please can anyone help me that whether depreciation is charged on land or not and clarify with reason.
2) please can anyone help me in clearing concept of accumulated depreciation. why we use sometimes accumulated depreciation instead of depreciation. please explain in your simple language and not in law language.
26 July 2016
No depreciation on LAND....(Presumpton is there is NO wear and tear of LAND) Accumuated depreciation is the "way of disclosure" and not a method.... It gives the depreciation accumulated so far (as on this day)
CAclubindia
