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depreciation on fix assets
08-11-2010, 02:43 AM
Post: #1
depreciation on fix assets
for school business

what is the life of building,furniture & computers?
and percentage
and which method i should adopt for depreciation
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08-11-2010, 05:58 AM
Post: #2
 
For ur interanal or management accounting u can use any method depend on the company policy normally straight line method use

for tax accounting reducing balance method
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08-11-2010, 09:17 PM
Post: #3
 
Agreed with Consultant,
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08-12-2010, 02:35 AM
Post: #4
 
you guys didn't tell me depreciation <b>% rate</b>.
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08-12-2010, 05:30 AM
Post: #5
 
Tax depriciation Rate on written down value

Plant & Machinery 10 %
Furniture & Fixture 10 %
Computer hardware includining printer 30 %
Professional books 20 %
Building 5 %
Motor vehicle 20 %
For more info see third schedule part 1 of incometax ordinance
wait for the laptop advice on above mentioned rates before taking any final decision

For internal accounting purpose u can charge rate as per management policy
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