Not many would know the fact that Land differs from Field. there is no depreciation on Land but there is some kind of depreciation on Field or so i feel. Why is there no depreciation on Land when Land does decrease in value if we raise certain type of crops. i.e if we raise the crops of opium, most certainly the land will not be as suitable for raising rice as other lands. This will result in decrease in demand of that land and ultimately decrease in the price ( at least for a season).
tariqmomand b.com student from city university peshawar.
Land cannot be depreciated.
land
Tangible fixed assets with an infinite life such as land do not need to be depreciated.
Tangible assets normally are long term capital assets, but could be short term. Some long term tangible assets can be depreciated while others can not. For example a building or piece of equipment is a tangible long term asset that can be depreciated for financial and tax purposes. Land is also a tangible asset, but can not be depreciated.
That can never happen. An asset will either be depreciated to its salvage value, or to zero, depending on whether or not it has a salvage value.
Land cannot be depreciated.
land
Tangible fixed assets with an infinite life such as land do not need to be depreciated.
Land is the only fixed asset which is not depreciated because land never depreciates or wear and tear occur rather it always appreciates.
Depreciated. It is a improvement!
Tangible assets normally are long term capital assets, but could be short term. Some long term tangible assets can be depreciated while others can not. For example a building or piece of equipment is a tangible long term asset that can be depreciated for financial and tax purposes. Land is also a tangible asset, but can not be depreciated.
Tangible assets normally are long term capital assets, but could be short term. Some long term tangible assets can be depreciated while others can not. For example a building or piece of equipment is a tangible long term asset that can be depreciated for financial and tax purposes. Land is also a tangible asset, but can not be depreciated.
That can never happen. An asset will either be depreciated to its salvage value, or to zero, depending on whether or not it has a salvage value.
The use of good English grammar.
No. It's not necessary
no
Yes, a repair can be depreciated if it significantly enhances the value or extends the useful life of an asset, rather than just maintaining it. Routine repairs that merely restore an asset to its original condition are typically considered maintenance expenses and are not depreciated. However, improvements that add value or functionality may be capitalized and depreciated over time. It's important to consult accounting guidelines or a professional for specific situations.