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Basic query in accounting

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(Querist)
21 September 2013 What is a relationship between below terms
1)Fixed asset 2)its Capitalisation 3)its Depreciation
I will be very much thankful to u.
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CA vidhyadhari

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CA vidhyadhari (Expert)
21 September 2013 as the fixed asset benefit is derived over several accounting periods it is to be capitalised and should been shown in balance sheet.
The main intention behind providing for depreciation is to set aside the amount for the replacement of Asset after its useful life and as the value of fixed asset decreases bcoz of several reasons to that extent fixed asset should be decreased in the balance sheet to provide true and fair view.
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