Depreciation and Amortisation
This query is : Resolved
10 November 2024
is depreciation charges on Tangible Fixed Assets and Amortization on intangible Fixed Assets.
10 November 2024
Yes, that's correct!
Depreciation refers to the allocation of the cost of tangible fixed assets (such as buildings, machinery, vehicles, or equipment) over their useful life. These are physical assets that lose value over time due to wear and tear, aging, or obsolescence.
Amortization refers to the allocation of the cost of intangible fixed assets (such as patents, trademarks, copyrights, or goodwill) over their useful life. Unlike tangible assets, intangible assets don't have a physical presence, but their value may decline over time, and amortization is used to systematically expense this decline.
Depreciation refers to the allocation of the cost of tangible fixed assets (such as buildings, machinery, vehicles, or equipment) over their useful life. These are physical assets that lose value over time due to wear and tear, aging, or obsolescence.
Amortization refers to the allocation of the cost of intangible fixed assets (such as patents, trademarks, copyrights, or goodwill) over their useful life. Unlike tangible assets, intangible assets don't have a physical presence, but their value may decline over time, and amortization is used to systematically expense this decline.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
