Topic 1 Accounting for Fixed Assets

CARD FOR DEPRECIATION EXPENSE

DEPRECIATION POLICY
ASSET
HOLDI
NG
PERIO
D
NEW
ASSET
S

TERM BASIS
(based on month)

MONTHLY BASIS
>15 days = 1 month
<15 days = 0 month

FULL DEPRECIATION IN YEAR

OF PURCHASE AND NONE IN
THE YEAR OF DISPOSAL

FULL DEPRECIATION IN
YEAR OF DISPOSAL AND
NONE IN THE YEAR OF
PURCHASE

% X COST* / NBV** X month

of purchase to the end of
accounting period)/12

% X COST */ NBV** X month of

purchase to the end of
accounting period)/12

% X COST* / NBV** X 1 year

none

DISPO
SED
ASSET
S

% X COST* / NBV** X
beginning accounting period
until month of disposal)/12

% X COST* / NBV** X
beginning accounting period
until month of disposal)/12

none

% X COST* / NBV** X 1 year

EXISTI
NG

% X (Asset balance at
beginning of accounting

% X (Asset balance at
beginning of accounting

% X (Asset balance at
beginning of accounting

% X (Asset balance at
beginning of accounting

Topic 1 Accounting for Fixed Assets

ASSET
S

period asset disposed)

period asset disposed)

period asset disposed)

CARD FOR ACCUMULATED DEPRECIATION

period asset disposed)

Topic 1 Accounting for Fixed Assets

DEPRECIATION POLICY
ASSET
HOLDING
PERIOD

TERM BASIS
(based on month)

MONTHLY BASIS
>15 days = 1 month
<15 days = 0 month

NEW
ASSETS

% X COST* / NBV** X month

of purchase to the end of
accounting period)/12

% X COST */ NBV** X
month of purchase to the
end of accounting
period)/12

DISPOSED
ASSETS

% X COST* / NBV** X
beginning accounting
period until month of
disposal)/12

% X COST* / NBV** X
beginning accounting
period until month of
disposal)/12

EXISTING
ASSETS
(full year
usage)

% X COST* / NBV** X Y
years

% X COST* / NBV** X Y
years

Accumulat
ed
Depreciatio

FULL DEPRECIATION IN
YEAR OF PURCHASE AND
NONE IN THE YEAR OF
DISPOSAL

FULL DEPRECIATION IN
YEAR OF DISPOSAL AND
NONE IN THE YEAR OF
PURCHASE

% X COST* / NBV** X 1
year

none

none

% X COST* / NBV** X 1
year

% X COST* / NBV** X Y
years

% X COST* / NBV** X Y
years

Topic 1 Accounting for Fixed Assets

n

Financial
Year

Types of Assets

Depreciation
Expenses

CARD FOR DEPRECIATION EXPENSE & ACCUMULATED DEPRECIATION

STRAIGHT LINE METHOD

Accumulated
Depreciation

Topic 1 Accounting for Fixed Assets