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Causes of Deprecation | Objectives of Providing Depreciation

Causes of Deprecation The depreciation may broadly be divided into two:- Internal causes External causes. 1. Internal causes: Depreciation that is a result of certain inherent normal causes is known as internal depreciation. The causes of internal depreciation are: Wear and Tear: The life of an asset reduces due to its continued use as for …

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DEPRECIATION ACCOUNTING, FINAL ACCOUNTS AND ELEMENTS OF COST

Meaning of Depreciation Depreciation means the gradual decrease or loss in the value of asset due to its usage, passage of time and normal wear and tear. This gradual decrease in the value of the asset is of permanent nature, which cannot be made good by normal repair and maintenance. Accounting Standards issued by Institute …

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Provision for Discount on Debtors & Provision for Discount on Creditors

Provision for Discount on Debtors In almost all the business there is always an effort to collect our payments from the debtors quickly so in order to promote quick payments from the debtors we offer they discount for all the early payment. Here all those debtors who clear their dues before their due dates are …

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