Depreciation
This query is : Resolved
27 August 2015
As per company act can we calculate depreciationy on total cost of asset or calculate after residual value?
For WDV depreciation method
total cost of asset-100000
Residual value=5000
should we calculate depreciation on 100000 ya 95000?
please suggest me
For WDV depreciation method
total cost of asset-100000
Residual value=5000
should we calculate depreciation on 100000 ya 95000?
please suggest me
27 August 2015
calculate the depreciation on 95,000 as per the new act 2013.
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27 August 2015
but sir our ca charged on 100000
27 August 2015
First and foremost, depreciation is to be charged by the Management of the Company and not by AUDITOR CA as AUDITOR. So please stop pointing finger at CA.
You charge the depreciation as per Companies Act 2013 and then LET your auditor CA report the same in his/her report. ok?
You charge the depreciation as per Companies Act 2013 and then LET your auditor CA report the same in his/her report. ok?
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27 August 2015
and what is in slm ? and normaly can we calculate depriciation on cost (include taxes)?
27 August 2015
In fact, the new act is aiming at SLM. They are trying to make us IFRS (International Financial Reporting Standards) compliant.
Since we are used to WDV, a stop gap arrangement is made for the time being to convert the so called SLM depreciation in terms of WDV rate.
Since we are used to WDV, a stop gap arrangement is made for the time being to convert the so called SLM depreciation in terms of WDV rate.
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27 August 2015
please send your cell no i want to speak with you.
27 August 2015
9371235540. Please call after 6 pm, if you dont mind.
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