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Depreciation

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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)

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)

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

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