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FIXED Asset - What is the most used method/right method in
Depreciation in India and other countries..? (ie., Straight
line method,Written down value method. or etc.,). The
calculation for depreciation how it stand commonly in all
organization..? Is there any difference between companies
and assets..?
Your answer will be highly appreciated.
Thanks in advance.
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Answer Posted / h.r. sreepada bhagi
In each country fixed asset depreciation methods and rates
will be mentioned in the relevant Act/s. For example in
India, depreciation can be charged on Written Down value
Method or Straight Line Method as per the Companies Act,
1956 (Depreciation Schedule to the Act). As per Income Tax
Act, 1961 different rates & method of calculation is
specified. In any country it's as per the Accounting
Standards and the accounting the guidelines they follow (US
GAAP, UK GAAP, Indian GAAP, IFRS, etc.)
Again it's not easy to say which method is better, as it
depends up on the industry to which a company belongs, it's
business policy, etc.
| Is This Answer Correct ? | 5 Yes | 0 No |
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