Depreciation on Fixed Assets
This query is : Resolved
Dhinesh kumar
(Querist)
23 June 2009
I have a basic doubt regarding Straight Line Method of Depreciation. In SLM method the value of depreciation is arrived by (Cost-Scrap Value / Useful life)
then why there is Rate of Depreciation is defined for SLM metod (As per Companies ACT) That too for Shift wise.
Is on any occassion, SLM is calculated by specified Rate (%)
Kindly suggest me in this regard
then why there is Rate of Depreciation is defined for SLM metod (As per Companies ACT) That too for Shift wise.
Is on any occassion, SLM is calculated by specified Rate (%)
Kindly suggest me in this regard
Aditya Maheshwari
(Expert)
08 July 2009
The companies act specify the minimum rate of depreciation to be charged. Company can charge any rate of dep but it should be higher one and disclosed in the notes to accounts.
Generally companies following SLM method follow the rates specified in the Companies act
Generally companies following SLM method follow the rates specified in the Companies act
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