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.

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.

What are the changes caused by changes made on depreciation rate on the opening balance of the current financial transaction?

Annuity Method Sinking Method Machine Hour Method Production Unit Method.