DEPRICIATION
This query is : Resolved
23 June 2011
Dear Sir,
Why we are doing depriciation.
And after dericiation the asset value is zero.and still we are using that asset.
where we can accounted.
Why we are doing depriciation.
And after dericiation the asset value is zero.and still we are using that asset.
where we can accounted.
24 June 2011
Hi, depreciation means spreading the cost of an asset over its estimated useful life. In other words, we can say it represents the part of the asset consumed during the year.
it is a period cost and hence debited to P/L a/c.
The life of the asset is initially estimated and supposed to be reviewed periodically (AS 6).If the life of asset is not revised then only its book value will become zero even when its life is remaining.
Regards, CA Shakuntala Chhangani
it is a period cost and hence debited to P/L a/c.
The life of the asset is initially estimated and supposed to be reviewed periodically (AS 6).If the life of asset is not revised then only its book value will become zero even when its life is remaining.
Regards, CA Shakuntala Chhangani
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR validation error - Balance sheet is not filled
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR 1: Details for showing Exempt Income
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
