Depreciation on fixed asset

Satish (Account Manager) (24 Points)

13 November 2011  

Dear All,

I am working in one medium scale manufacturing industry, the industry have few Machineries , these are almost 10 to 12 years old machineries & till the date the depreciation on these has not calculated so please tell me from now onwards how can I calculate the depreciation, shall I start it from the beginning or I can calculate it from current financial year?