Tag: capital allowances
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Depreciation and Capital Allowances
Depreciation is the amount an asset has reduced depending on age, wear and tear, and current market value. It is a core part of bookkeeping, and usually applied at year end (for larger businesses it is often calculated every month as part of management reporting). When you record the purchase of an asset such as equipment or buildings…
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Accounting for Depreciation
Depreciation is really important yet few bother to do it. Why? because it seems so hard to do. But the reality is that it is really very simple. But first we need to look at what it is, and why we need to do it. The Value Of Assets Everything you buy to use for…