How to depreciate existing assets with useful life
Hi
Presently our all Assets are Depreciated on percentage Basis. Now Management wants to depreciate Existing Assets with useful life.
For Example: Original Cost = 10000
Depreciation Rate = 10%
Date in Service = 01-APR-2012
as on 31-Mar-2014 Net Book Value = 8000
Now w.e.f. 01-o4-2014 we want to change the Depreciation Method & depreciate Asset with Useful Life i.e. 2Yrs . Depreciation Should be calculated on balancing amount i.e. Net Book Value
See Below calculation
8000.00 - Net Book Value
4000.00 - Depreciation per year (333.33 per month)
Please advice