What is asset class? What are depreciation areas?
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Answer Posted / manovijay
Asset class is group of slimier kind of group of assets
the asset class is control asset screen layout rule
it is used to account determination.
Depreciation Areas:s
Depreciation areas are used to calculate depreciation for
different reporting purposes.
ex:
Book depreciation(as per company Act 1956)
special Tax depreciation(as per income tax act 1961)
group depreciation
cost depreciation
management depreciaion
etc.,
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