Depreciation on CCTV Camera
Ankesh Mishra (Accounts Assistant) (28 Points)
04 April 2019
What should be rate of depreciation on CCTV camera as per companies act?
8 Replies
nagendra 05
(57 Points)
Replied 04 April 2019
if it comes under network then life should be 6 years. or If use as end user device the. life should be 3 years then rate should calcluted by using
=1-n√residual value /gross
=1-n√residual value /gross
Priya Kashyap
(Student)
(7053 Points)
Replied 04 April 2019
Machine hour rate or life hours could be the yardstick
nagendra 05
(57 Points)
Replied 04 April 2019
as per companies it should be on useful life of the asset
Priya Kashyap
(Student)
(7053 Points)
Replied 05 April 2019
no it's not 5 years it shall be estimated on the basis of it's hrs used each week or day
useful life shall be based on its warranty period + brand estimate
useful life shall be based on its warranty period + brand estimate
nagendra 05
(57 Points)
Replied 05 April 2019
Depreciation for companies should be calculated as per companies act 2013 ..on its useful life after deducting residual value of 5% from gross
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