Governments occasionally allows business to take on the extra depreciation on few fixed assets for the purpose of tax. These deductions called Sec 179 or bonus deduction are an incentives to business to capitalize on their investments in equipment and property. 474 more words
Tags » Fixed Asset
When you want to change Fixed Asset value, you can do it on few ways. In this post, I will show you how you can do it using Write-Down and Appreciation in what will be results of these postings in G/L entry, based on posting groups you use. 140 more words
If we need to transfer, split up or combine our fixed assets, we can do it using the FA reclassification journal. In my following example, I split up my existed FA, but everything is almost the same in other examples. 47 more words
Acquisition costs need to split into capital and revenue expenses.
“Several tests have been developed through case law to ascertain whether expenditure is revenue or capital in nature. 237 more words