Depreciation, Cost Accounting

This is the amount charged due to the usage and passage of time. Fixed assets are utilized for earning revenue. Thus, a decrease in their value is considered to be the operational expenses of business. So as to ascertain true profits and to illustrate the true value of the assets in the balance sheet, depreciation has to be charged. Reduction account is debited while individual asset account is credited and then the profit and loss account is debited and whereas depreciation accounts is credited.

Posted Date: 4/4/2013 1:56:21 AM | Location : United States







Related Discussions:- Depreciation, Assignment Help, Ask Question on Depreciation, Get Answer, Expert's Help, Depreciation Discussions

Write discussion on Depreciation
Your posts are moderated
Related Questions
what is accounting treatment for material losses due to abnormal reasons

is sale of salvage from capital project recorded as gain/loss or applied back to project costs

please concept clear me cost accounting for example, we manufacturing any product


Chrome-It, Inc., manufactures special chromed parts made to the order and specifications of the customer.  It has two production departments, stamping and plating, and two service

difference between diffrential cost and marginal cost

We consider two regions A and B. Each market has the same size (i.e. number of consumers) but differs in the willingness to pay for one unit of the good proposed by the firm. On ma

what is the role of cost accounting in business

In early July, Mike Gottfried purchased a $70 ticket to the December 15 game of the Chicago Titans. (The Titans belong to the Midwest Football League and play their games outdoors

The beginning inventory balances of Item X on August 1 and the purchases of the item during the month of August were as follows: August 1 Beginning Inventory 600 units @ $10.00