What point should be kept in mind
This query is : Resolved
26 June 2022
what point should be kept in mind while maintaining FAR ( Fixed Assets Register)
CA R SEETHARAMAN
(Expert)
26 June 2022
Assets:
1 Opening balance.
2 Additions.
3 Disposal.
4 Closing balance.
Depreciation:
1 Opening balance.
2 Additions/Disposal
3 Closing balance.
Assets classification:
1 Land
2 Building.
3 Plant and machinery.
4 Furniture and fittings.
5 Intangible assets.
Life of fixed assets and residual value of 5%.
1 Opening balance.
2 Additions.
3 Disposal.
4 Closing balance.
Depreciation:
1 Opening balance.
2 Additions/Disposal
3 Closing balance.
Assets classification:
1 Land
2 Building.
3 Plant and machinery.
4 Furniture and fittings.
5 Intangible assets.
Life of fixed assets and residual value of 5%.
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