Policies Related with Depreciation Assignment Help
An Introduction to Policies Related with Depreciation
Depreciation is the used or expired part of fixed assets for an accounting period. It is crucial to analyze the way a company uses depreciation that represents the income statement of a firm. Though there are several rules to govern the way to expense depreciation, however, there is a lot of room to make accounting rooms for the management that may mislead investors. If you want a top quality Policies Related with Depreciation assignment help, BookMyEssay is the right choice. Different methods are there to compute depreciation for different fixed assets. But, the comparison of different depreciation methods is difficult as every firm uses different methods to calculate depreciation that affects its balance sheet and net income.
Depreciation policy relates to depreciation method selected and its applicability for the firm. At BookMyEssay, we have hired accounting assignment provider who can provide you with a remarkable assignment writing help. Our online assignment writer compose the assignments from scratch and therefore you can be assured of receiving an error-free and a well-researched Policies Related with Depreciation assignment paper help. Every assignment that you receive from us will meet the university guideline and you will receive a plagiarism-free assignment solution.
Policies Related with Depreciation – A Summary
Policies related to depreciation that are followed in a form is determined at the top level. Different methods may be evaluated related to several factors including repairs and maintenance, obsolescence effect, the future operating efficiency of an asset in service cost, in use, etc. So, writing assignments in this realm is going to be a challenging task since you have to keep focus on several interdisciplinary subjects. However, you can seek help from Policies Related with Depreciation to maintain the latest updates and write the assignments efficiently.
The management should consider a few factors at the time of framing a depreciation policy:
- Recovering the fixed asset cost prior to its effective life.
- Fund creating to replace assets in the future.
- Taking advantage of a tax benefit
- Determining the actual profit.
- Following the rate of return uniformly.
- Creating a fund source for working capital.
Depending on the preferences of a company, it has to choose the depreciation method. There are two common methods in this aspect that are followed. Our assignment provider associated with Policies Related with Depreciation homework writing writing help keep updated in-depth knowledge in this regard.
The two common methods are as follows:
- Straight line method depreciation – It takes into account the scrap value of an asset at the end of its term and reduces the scrap value from its original cost. The resultant number is divided the number of useful years. The firm expenses the same depreciation amount every year.
- Accerlated method – This method writes-off the depreciation cost more rapidly compared to the straight-line method. The purpose is to reduce taxable income.
International Accounting principles and policies should be applied consistently at the time of recording financial transactions. Any change in the depreciation method indicates a change in accounting. Therefore, there must be valid reasons to change the depreciation method. At the end of every financial year, management must review the depreciation method. When there is a major change in the future benefits of an asset, the depreciation method must be changed. According to the Accounting Standard 1 that says about Disclosure of Accounting Policies, the change in the depreciation method is the change in an accounting estimate. Therefore, it needs full disclosure and qualification in the footnotes. Also, the financial effects and justifications of the change should be disclosed.
The depreciation method may be changed with or without retrospective effect. Without retrospective effect indicates no adjustment will be charged by a new method. With retrospective, method indicates the depreciation method that is charged is adjusted from the date of purchase.
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