Basic query in accounting
This query is : Resolved
21 September 2013
What is a relationship between below terms
1)Fixed asset 2)its Capitalisation 3)its Depreciation
I will be very much thankful to u.
1)Fixed asset 2)its Capitalisation 3)its Depreciation
I will be very much thankful to u.
21 September 2013
as the fixed asset benefit is derived over several accounting periods it is to be capitalised and should been shown in balance sheet.
The main intention behind providing for depreciation is to set aside the amount for the replacement of Asset after its useful life and as the value of fixed asset decreases bcoz of several reasons to that extent fixed asset should be decreased in the balance sheet to provide true and fair view.
The main intention behind providing for depreciation is to set aside the amount for the replacement of Asset after its useful life and as the value of fixed asset decreases bcoz of several reasons to that extent fixed asset should be decreased in the balance sheet to provide true and fair view.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- RCM INVOICING FROM NOV-2024
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
Trending Online Classes
CAclubindia
