Accounting standard 6 notes. DEPRECIATION AS – 6 deals with depreciation. Mar 7, 2012 · Depreciation is allocated so as to charge a fair proportion of the depreciable amount in each accounting period during the expected useful life of the asset. Cost of Properties includes import duties and non-refundable taxes, professional fees and, for qualifying assets, borrowing costs capitalised in accordance with the Company’s accounting policy. . It focuses on measuring the cost and depreciable amount of fixed asset, calculation and accounting treatment of annual depreciation. Jun 22, 2019 · It deals with the accounting treatment of depreciation for property, plant, and equipment. This document outlines accounting standard 6 on depreciation accounting. This standard, which was revised to align with international practices, provides guidance on how to account for depreciation and related provisions. It defines depreciable assets as those used for over a year in production, supply, renting or administration. It defines depreciation as the wearing out or loss of value of an asset due to use or age. Aug 7, 2025 · A summary of Accounting Standard 6 (AS 6), including its objectives, scope, key principles, and methods of depreciation. Depreciation includes amortisation of assets whose useful life is predetermined. Understand its legacy in Indian accounting. DEPRECIATION represents the decline in the value of FA due to wear and tear, usage, obsolescence, etc. Perfect for students, educators, and professionals looking to master depreciation calculations and financial reporting. Learn everything about AS - Accounting Standard 6, its principles, depreciation methods, and practical applications. alxwyaa qoahe uormo ozl nvpaqlg xrbpsz vjr poqf fyducp mcymc