Hi, can anyone tell me.
That for same category of assets can we apply different methods of depreciation in the companies books of accounts?????????????
ABHINAV SURELIA ( CA & CS) (92 Points)
29 May 2012Hi, can anyone tell me.
That for same category of assets can we apply different methods of depreciation in the companies books of accounts?????????????
Z
( )
(2965 Points)
Replied 06 June 2012
Text from guidance note on Accounting for Depreciation in Companies
A company may adopt more than one method of depreciation. Thus, it is permissible to follow different methods for different types of assets provided the same methods are consistently adopted from year to year in accordance with Section 205(2). Also, units in different geographical locations can follow different methods of depreciation provided the same are consistently followed
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