Yearly Archives: 2021

This is done because you do not want to understate any expenses in your financial statements for the next 12 months. Say, for instance, you were overcharged for an item…

This is done because you do not want to understate any expenses in your financial statements for the next 12 months. Say, for instance, you were overcharged for an item…

If the vehicle were to be sold and the sales price exceeded the depreciated value (net book value) then the excess would be considered a gain and subject to depreciation…