Fixed Assets - EBS (MOSC)

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how can i achieve the Doubling Declining balance method for Chinese accounting rule

edited Apr 18, 2016 12:58PM in Fixed Assets - EBS (MOSC) 3 commentsAnswered

HI THERE:

     Here is the  scenario I  am facing,

     My company now planning to use the Doubling Declining balance method to Depreciate the fixed asset, I was trying to use the seeded method on the EBS --"200DB" is not fit for us,

      I want to achieve the result is :

     Suppose a business has an asset with $1,000 original cost, $100 salvage value, and 5 years of useful life. Under the double-declining-balance method, double that rate, i.e. 40% depreciation rate would be used. The table below illustrates this:

    

Depreciation
rate
Depreciation
expense
Accumulated
depreciation
Book value at
end of year
original cost $1,000.00
40%400.00400.00600.00
40%240.00640.00360.00
40%144.00784.00216.00
40%86.40870.40129.60
129.60 - 100.00
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