Accounting for machinery

340 views
User Avatar

1359 Points Posted on 15 June 2022
how thousands of machinery is recorded in books and their depreciation ??
0 Reply Share Follow
On 15 June 2022 at 13:11 Report
Replies (10)
Quick Summary
This discussion addresses the accounting treatment for a large number of machinery assets, focusing on how to record their purchase and calculate depreciation. Key recommendations include maintaining a detailed register (digital or Excel) that tracks purchase dates, depreciation, and net amounts, potentially organised by asset blocks as per AS-10. The use of accounting software or Excel is suggested for efficient record-keeping, rather than a manual register.

User Avatar

Master in Accounts & high court Advocate
9620 Points Posted on 15 June 2022

A seperate register to be maintained for recording purchase of machinery date wise and put a seperate column for depreciation and net amount in a particular year

1 Reply
On 15 June 2022 at 14:27
User Avatar

CFO- at NHTF
58280 Points Posted on 15 June 2022
It will be considered in a particular block of assets under PPE as per AS-10
2 Reply
On 15 June 2022 at 14:58
User Avatar

Chartered Accountant
86505 Points Posted on 16 June 2022
You have to maintain a register or record it in some excel. You may also provide separate details in ITR

Also you can arrange machineries block wise
1 Reply
On 16 June 2022 at 08:03
User Avatar

CFO- at NHTF
58280 Points Posted on 16 June 2022
If you are maintaining it in software then it's fine. Else excel is sufficient and need not be manual register
1 Reply
On 16 June 2022 at 14:44
User Avatar

Chartered Accountant
86505 Points Posted on 16 June 2022
Stop repeating your replies, increase your knowledge to reply in one shot @ eshwar Reddy . I think it's easy for Some literate person to understand what is meaning of replying once or single reply or non repeatedly reply. Even after saying on about more than 50 post you are replying again and again like a fool.
Reply
On 16 June 2022 at 20:51
User Avatar

CFO- at NHTF
58280 Points Posted on 16 June 2022
You are already a fool and act like far below .
Reply
On 16 June 2022 at 21:52
User Avatar

Chartered Accountant
86505 Points Posted on 16 June 2022
No matters but you ruined the whole platform with your senseless and multiple replies
Reply
On 16 June 2022 at 22:44
User Avatar

CFO- at NHTF
58280 Points Posted on 16 June 2022
But many times you are trying follow my answers and trying to target and so I have no other option except counter it back
Reply
On 16 June 2022 at 23:03
User Avatar

Chartered Accountant
86505 Points Posted on 16 June 2022
If you are man, then don't reply a single emoji or text now on this post as it's going on tooo much
Reply
On 16 June 2022 at 23:07
User Avatar

CFO- at NHTF
58280 Points Posted on 16 June 2022
Om Namah Shivaya 🌹 The End
Reply
On 16 June 2022 at 23:09

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Company 3 months old, INC-20A not filed, all 3 of
  2. How do I choose the Best GST Lawyers in New Delhi
  3. Loss on sale of residential flat after indexing al
  4. Short Deduction
  5. Large mismatch between AIS Business Receipts and G
  6. Income tax on Australian Stipendiary Steward on 3
  7. INCOME TAX SECTION 92E
  8. Queries on Tax Invoice and GST
  9. Income Tax Auditor Tenure for Small Companies
  10. Sec 8 company sec 12ab reg

More recent discussions | Post

Related Topics :

Loading