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Additional Depreciation on FA

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Posted on by GSMAKHIJA

5

Hi

we need a help

we have one Scenario where Management need to Calculate the Additional Deprecation on all FA

i.e. is Net Book Value of FA is 100$ as on 31/12/2021 we need to Dep. it NBV by 30% to Bring NBV to 70$

and not 70$ will be Dep. on Monthly basis for the rest of life .

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Microsoft Dynamics GP

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GSMAKHIJA 5 on at

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RE: Additional Depreciation on FA

Sir

FA are old also and new also management want to dep. NBV by 50%

If you can guide the steps to calculate additional dep. on FA it will be great help
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RE: Additional Depreciation on FA

Additional depreciation to be allowed at 20 % of actual cost of new plant and machinery. However, if an asset is acquired and put to use for less than 180 days during the previous year, 50% of additional depreciation shall be allowed in year of acquisition and balance 50% would be allowed in the next year.

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