Schedule ii companies act 2013
This query is : Resolved
25 September 2015
Is it necessary to make the disclosure of switching from WDV or Slm method to Schedule II.???
An Asset is purchased on 01.04.2010 and it is showing remaing life of 11 years as on 31.03.2015, which is correct as useful life is 15 years, but if i put purchase date as 30. 03. 2010 it shows the useful as 10 years, while according to me life should be 10.5 years not 10 years.It should not come down to 10 years just by changing the date from 1.4.2010 to 30.03.2010. Kindly clarify as I am having trouble in understanding it.
Thanking You in Anticipation.
An Asset is purchased on 01.04.2010 and it is showing remaing life of 11 years as on 31.03.2015, which is correct as useful life is 15 years, but if i put purchase date as 30. 03. 2010 it shows the useful as 10 years, while according to me life should be 10.5 years not 10 years.It should not come down to 10 years just by changing the date from 1.4.2010 to 30.03.2010. Kindly clarify as I am having trouble in understanding it.
Thanking You in Anticipation.
26 September 2015
when unit of measurement is taken as year, stick to whole numbers. Don't get confused with fractions.
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