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Depreciation on Assets

This query is : Resolved 

15 April 2008 UNDER CAPITAL WORK IN PROGRESS ASSETS PURCHASED IN THE MONTH OF JUNE'07. BUT CWP COMPLETED IN THE MONTH OF MAR'2008, SO, WE CAPITALIZED THE CWP AS ON 31-03-2008.

OUR DOUBT IS DEPRECIATION CALCULATED ON (SLM) AS ON DATE OF PURCHASE OF ASSETS OR CAPITALIZATION DATE WHICH DATE WE ARE TAKING FOR ACCOUNTING.

PLEASE SIR

15 April 2008 from the date when asset is ready to use.

16 April 2008 Since, dep is calculated on Fixed Assets, capitalisation date is relevant




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