Depreciation disclosure help

Topics related to universal accounting principles and best practices, local GAAP, audit, laws and regulations affecting financial reporting, and other financial reporting topics.
This is also the appropriate forum for beginners to ask any questions, even if they pertain to IFRS.
Post Reply
gayomarlic
Posts: 1
Joined: 01 Sep 2021, 18:54

Depreciation disclosure help

Post by gayomarlic »

Not from accounting background but i need a bit help here.
In the attached image, the depreciation charged amount for motor vehicle for the year 2020 shouldnt be higher than the given figure, since there have been no additions or disposition of the asset and the rate is given 20%.
If i use 20% rate the calculated depreciation expense is 178229. Am i missing something here.
Attachments
WhatsApp Image 2021-09-01 at 21.49.23.jpeg
User avatar
Marek Muc
Site Admin
Posts: 3228
Joined: 15 Oct 2018, 17:21
Contact:

Re: Depreciation disclosure help

Post by Marek Muc »

the cost of vehicles may include assets that were fully depreciated already but still in use
JRSB
Trusted Expert
Posts: 1309
Joined: 01 Mar 2020, 01:10
Location: UK

Re: Depreciation disclosure help

Post by JRSB »

do we know if reducing balance or straight line?
Post Reply