Depreciation under companies act 2013
This query is : Resolved
09 May 2015
what would be the accounting treatment of depreciation if the remaining useful life is less than or equal to one year?
for example:-
asset purchased on 20/02/2010
useful life as per companies act,2013 is 5 years
cost of asset is 26000
what would be the depreciation for F.Y 2014-15
09 May 2015
After retaining the residual value, charge the entire carrying cost as depreciation in F.Y. 2014-15.
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