0
Which accounting principle directs the depreciation process?
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Distinguish between depreciation policy and the concept of depreciation?
Depreciation policy is management thing that what depreciation method to use and how much depreciation to charge to each asset. Depreciation concepts are concepts which govern the depreciation process which management cannot change they are universal rules to follow depreciation that how straight line depreciation work etc.
How often is the recording process in accounting?
How often is the recording process in accounting?
Depreciation is a process of?
Depreciation is a process of allocating fixed asset cost portion to specific single fiscal year in which that asset is used to generate revenue.
Depreciation is a process that results in?
the loss of value in an item
3 important activities in accounting process?
real accounting, nominal accounting,personal accounting
Is the depreciation expense added to net income?
Be Careful depreciation is an accounting function but when booked on the P&L it better be going to a depreciation "Sweep Account". Otherwise you are booking depreciation as paper money only! And four or five years down the road you will have nothing to show for it.
Who directs the process of the cell?
The nucleus.
What is a Depreciation Expense in accounting?
Depreciation expense is the process of reducing the cost of fixed asset during the fiscal life of a long term asset through annual fixed amount of expense charged to profit and loss account of business in which that long term asset is utilized in business to generate revenue.
Distinguish between depreciation policy and the concept of depreciation?
Depreciation policy is management thing that what depreciation method to use and how much depreciation to charge to each asset. Depreciation concepts are concepts which govern the depreciation process which management cannot change they are universal rules to follow depreciation that how straight line depreciation work etc.
How often is the recording process in accounting?
How often is the recording process in accounting?
Depreciation is a process of?
Depreciation is a process of allocating fixed asset cost portion to specific single fiscal year in which that asset is used to generate revenue.
Accumulated depreciation and depreciation expense?
Using accumulated depreciation and depreciation expense is a way that businesses can realize the true value of assets. A piece of equipment, for example, is devalued every year by the process of amortizing the asset. This in turn is recorded as depreciation and depreciation expense.
Depreciation is a process that results in?
the loss of value in an item
3 important activities in accounting process?
real accounting, nominal accounting,personal accounting
What are the three reasons why depreciation occur?
Depreciation is the process of allocating the cost of a fixed asset (less residual value) over its estimated useful life in a rational and systematic manner. Depreciation can occur due to wear and tear, usage, effluxion of time, obsolescence through technology, market changes and inadequacy.
What is accounting cycle or process?
The sequence of activity which are followed in an organization,where accounting is pratise.the sequence of accounting procedure used to record classify and summarize accounting information is known as ACCOUNTING CYCLE/PROCESS.
What is the activities of the asset accounting sub-process?
Which of the following is an activity of the Asset Accounting sub-process
