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Depreciation On Fixed Assets

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The file contains brief notes on Depreciation on Fixed Assets. This note very helpful to students to have understand on the Depreciation on Fixed assets.

  • 1
    Std App. Which will called as Mis.Stds AS-6 AS-3 AS-14 AS-23/27 (IPCC) (IPCC) (Consolidation) 1 2 3 5 Land Mining Assets (Forest Plantation) AS-6 Depn Accounting-Miscelleneous Stds. Depreciation Applicability Areas Factors Depends Historical Cost Estd.Life Scrap Value Int.Assets 4 G/w Livestock Change in the amount of Depn Reasons 1 Change in HC 1.4.2010 8 lakh 7.10.2014 llakh 1.4.2010 Depn per yr (1.4.2010 till 31.3.2014) WDV as on 1.4.2014 Grant obtained (7.10.2014) Depn for Sub.Years Due to Govt Grants,Price Escalation,FE fluctuations Suppose n=10 yrs (G.G) (81akh/10) 80000 320000 4.8 lakh 1 lakh 3.8 lakh 63333.33 (take it as it is obtained on starting of the year and ignore monl (Represents for whole year not for part of the year)
  • 2
    AS-6 Depn Rev.Page no:-ll 2012-2013 Pur.Value (in Lakhs) Add:-Rev Upward Rev.Ass.Value 2013-2014 Bal.b/d 2014-2015 Balance b/d Pur.Date 01.04.2012 2012-2013 180.00 36.00 216.00 183.60 183.60 156.06 156.06 Depn Balance c/d Depn Balance c/d Less:-Dow Rev Depn Balance c/d Depn 32.40 183.60 216.00 27.54 156.06 183.60 7.80 22.00 126.26 156.06
  • 3
    Methods Followed Stgt Line Method WDV Depn Depn Cost-SV Num. of Estd. Life 80000 *3 yrs 240000 560000 112000 (8-3) 32000 Depn % Depn % 2 Change in Accounting Ests. (As per AS 5) Due to:- :h calculation) Scrap value No of Est.Life 1.4.2010 1.4.2013 1.4.2010 8 lakh Re-std 8 lakh 10 years 8 years (1.4.2010-31.3.2013) Depn for Exp.three years Depn for Exp.three years WDV as on 1.4.2013 Dep for Unexp. Period as per Rev.Estd Life Change in Depn D/C*IOO I-nth root 3 Change in Changes in 1.4.2010 YR 1 (-)DI (-)D2 (-)D3 Cum.Depn Change in [ Entry to be 1) P/L a/c C To Asset
  • 4
    2) Depn a/ To Asset 28.20 Cur.Rev.Reserve (after adj.downward 5%) (Adj.against the Rev.Res O/S)
  • 5
    Rates As per followed in Sch XIV SV/C Vc policy (AS 1) AS-5 WDV (20%) 800000 -160000 640000 -128000 512000 -102400 409600 (old way of Chrging Depn) 390400 Whether rates Whether rates 800000 -480000 320000 Sch Sch XIV 3yrs 480000 New way of Charging Depn) 480000 )epn passed 89600 89600 89600
  • 6
    160000 (Current year Depn as per WDV) 160000
  • 7
    Prove that should be allowd based upon commercial & technical Consideration Both Allowable or not? Not allowed

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