Amortization
This query is : Resolved
19 January 2015
could you please give the view regarding Amortisation and how its difference from depreciation...
19 January 2015
Mine development expenditure(Initial pit expenditure) is amortized over the life of the mine. Amortization rate is arrived at dividing the mine development expenditure by estimated minable reserve. The amortisation charge for the year is arrived at multiplying the rate with actual production during the year.
Depreciation is a charge on assets but amortisation is a charge on expenditure.
Depreciation is a charge on assets but amortisation is a charge on expenditure.
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