Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2010 We have old assets being depreciated at WDV in Financial Books. Now We want to buy Assets 9 Plant & Machinery ) and depreciate them at SLM.
1.Is both method allowed?
2.If Allowed what is the procedure?
3.What disclosures are required?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

01 February 2010 As per AS-6 combnation of more than one method can be used based on the Asset type and nature and circumstances prvailing in the business

but selected depreciation method should be followed consistently period to period

As per AS-6 diclosure Depraciation method should be disclosed

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

01 February 2010 As per AS-6 combination of more than one method can be used based on the Asset type and nature and circumstances prvailing in the business

but selected depreciation method should be followed consistently period to period

As per AS-6 diclosure Depraciation method should be disclosed

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

kavita goel

avulaandcopdrl 2023

divakar podaturu

Ashok Atluri

CA Reshma prabhu

Subscribe Now

Depreciation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA