Asset Depreciation
HI Experts,
I have Below requirement for depreciation If any one have idea please help me.
| iii) | write-off of the cost of asset over the prescribed working life of the asset | |||||
| - To compute initial allowance (IA) and annual allowance (AA) | ||||||
| Initital allowance (IA) = 20% x the cost of assets | (Only compute in year of acquisition) | |||||
| Annual Allowance (AA) = (80% x the cost of assets) / number of years of working life | ||||||
| Example: | ||||||
| Cost of motor vehicle | S$45,000 | |||||
| working life | 6 years | |||||
| Date of purchase | 01.01.2012 | |||||
| Below example Asset life years: 6 Years first year of asset system should be depreciation 20% and after remaining 80% should prorate to 6 | ||||||
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