Statutory Accounts

Treatment for Depreciation of Fixed Assets When Preparing Year End Accounts

Posted by on December 16, 2011 at 5:44 pm

The provision for depreciation is an accounting and tax term used to describe the calculation of the physical decline of fixed assets of businesses. Most fixed assets such as plants, equipment, furniture and vehicles decline in value over time as they are used and as they age. Hence, one needs to take into account the […]