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What are the varioius Internal sources of cash?
Depreciation Amortization of intangible assets
Is depreciation charged on current assets or not when tax payer is individual?
Depreciation is always charged on fixed assets and it does not has any relation with individual or company status.
Is depreciation charged on current assets or not?
No
What is the difference between amortization and depreciation?
Amortization usually refers to spreading an intangible asset's cost over that asset's useful life. Depreciation, on the other hand, refers to prorating a tangible asset's cost over that asset's life.Depreciation Is Applicable only on Fixed & Tangible Assets Which Depends on useful life of that assets that may be expected accurately but Amortization applicable on Intangible Assets whose life is very critical to be measured.DEPRECIATION is calculated for tangible assets while AMORTIZATION is calculated for intangible assets.
Does amortization have a cash expense?
No amortization is done for intangible assets like depreciation for tangible assets and it also does not involve cash expense.
Intangible assets are depreciated or not?
Intangible assets are subject to devaluation not depreciation.
What are the varioius Internal sources of cash?
Depreciation Amortization of intangible assets
Can depreciation charged at building?
Building is an asset for business and depreciation is only charged to assets of business so in this way depreciation is charged to building as well.
Is depreciation charged on current assets or not?
No
Is depreciation charged on current assets or not when tax payer is individual?
Depreciation is always charged on fixed assets and it does not has any relation with individual or company status.
What is the difference between amortization and depreciation?
Amortization usually refers to spreading an intangible asset's cost over that asset's useful life. Depreciation, on the other hand, refers to prorating a tangible asset's cost over that asset's life.Depreciation Is Applicable only on Fixed & Tangible Assets Which Depends on useful life of that assets that may be expected accurately but Amortization applicable on Intangible Assets whose life is very critical to be measured.DEPRECIATION is calculated for tangible assets while AMORTIZATION is calculated for intangible assets.
What is the different between the cost of depreciation of a asset and its related accumulated depreciation?
Cost of depreciation assets and accumulated depreciation is same as accumulated depreciaton calculates how much depreciation is charged till date while remaining is current book value of assets.
Does amortization have a cash expense?
No amortization is done for intangible assets like depreciation for tangible assets and it also does not involve cash expense.
Explained the concept of depreciation and amortization?
Depreciation is the wear and tear charge allocated to specific fiscal year thorugh income statement for related fixed tangible assets while amortization is same as depreciation just it is done for intangible fixed assets.
Types of intangible assets?
1 - Goodwill 2 - market related intangible assets 3 - Customer related intangible assets 4 - Contract related intangible assets 5 - Artistic related intangible assets 6 - Technology related intangible assets
Can depreciation be charged on capital work in progress?
No, depreciation cannot be charged on capital work in progress (CWIP) because depreciation is applied to assets that are completed and ready for use. CWIP represents costs incurred for assets that are not yet finished, meaning they have not been placed into service. Once the construction or development is completed and the asset is put into use, depreciation can then be applied.
When depreciating fixed assetthe land is not depreciated?
Depreciation is always charged on the depreciable assets only.... books and teachers are teaching wrong actually.. that.. depreciation is charged on fixed assets.... but it is not true....Depreciation is always charged on fixed tangible assets which are depreciable...Assets which decrease their value because of their use, accident etc..for example, plant, machinery, motor vehicles etc...Clear all your accountancy doubts... use... "ULTIMATE BOOK OF ACCOUNTANCY"published by vishvas publications
