Noted.

Depreciation of motor vehicles will be treated as an expense in the Profit and Loss statement, classified directly as a motor vehicle expense.

Reporting a proper documentation

Accounting -> Topics -> Depreciation Reporting Reporting Depreciation of motor vehicles will be treated as an expense in the Profit and Loss statement, classified directly as a motor vehicle expense or under the heading of selling expenses. In the balance sheet the current period's depreciation must be added to the accumulated depreciation, with that amount then being deducted from the relevant asset.

In fact, depreciation of any fixed assets can be treated as expenditure of profit and loss account. In case of motor vehicle's depreciation is kept under selling expenses. it has to be deducted from assets in the balance to get current value of assets.

I think the most scariest thing about depreciation, especially in value, is a loss.

What does reporting mean in the business world?

What does reporting mean in the business world?

n the balance sheet the current period's depreciation must be added to the accumulated depreciation, with that amount then being deducted from the relevant asset.

Depreciation of any fixed asset is treated as expenditure in the profit and loss account.which inturn must be deducted from the current value of the asset to get the real worth of the asset .