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Explain the following methods
Annuity Method Sinking Method Machine Hour Method Production Unit Method.
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Depreciation Rate
What are the changes caused by changes made on depreciation rate on the opening balance of the current financial transaction?
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Idle Assets
If an Asset is classed as IDLE and has not been used in years but continues to depreciate is the accounting treatment to dispose of asset/write it down to a saleable value/stop depreciating it and keep it on the books, even although the asset would still be held within the company.For example a old machine thats to big to move but will still be held at the factory.
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Asset Captilazation
What action do we need to take, if assets is not Captilased last year and request has come after year end books closed (FY June to May) in July month of next year.
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Large start up costs, can they be capitalized
Can start up costs associated with getting a new location up and running within your business be capitalized even though they are non-capital items?
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What is Depreciation?
Depreciation is the decrease in the value of an asset due to wear & tear, obsolscense, laps of time.
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Can a rental expense for equipment be treated as Construction in Progress?
Example, building an expansion of building , but need to rental an equipment to complete this project.
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Calculation of Fixed Assets
How can we made calculation of Fixed Assets?
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Nature and accounting treatment for fixed asset
Explain the nature and accounting treatment for fixed asset.
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Type of Depreciation
What type of depreciation is calculated for cold mines ?
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Do we depreciate Paintings and Antiques?
If we do why it would not appreciate in value?
Fixed Assets Interview Questions
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