Hello members,
I want to discuss whether there is a relation between Accumulated Depreciation and Depreciation Reserve Fund?
How are these different, and both are reported in balance sheet?
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Relation between accumulated depreciation and depreciation reserve fund
Replies (9)
accumulated depreciation is the yearly normal dep that is charged
dep res fund is a bus fund in which probable replacement cost of equipment is accumulated each year over life of asset. it can be replaced readily whenever it becomes obsolete
dep res fund is a bus fund in which probable replacement cost of equipment is accumulated each year over life of asset. it can be replaced readily whenever it becomes obsolete
Thanks for comment.
And how about their disclosure in the financial statements?
ACC dep shown as deduction from fixed assets under non current assets and dep res fund shown under reserves and surplus
So do you mean both have credit balance?
yes that's right
Can a balance sheet have both accounts simultaneously? How?
sir actually one is reserve and other is provision..
so a balance sheet can have both a time
so a balance sheet can have both a time
Thank you. I just wanted to confirm this.
Does someone has a balance sheet having both accounts in it?
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