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Module 1: Equilíbrio dia ajustes no diário geral e razão

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Accounting - Topics - Depreciation Likely Errors

Likely Errors

* calculating depreciation for the full year rather than the relevant
accounting period

* previous accumulated depreciation is deducted only when using
reducing balance method

* disposal/residual/scrap value is not deducted when using reducing
balance method

* correct identification of the length of the accounting period. In the
problem above 1 March is only two months after the commencement of the
period on 1 January.

* incorrect decimal point - where a calculator is used

* failing to add the current depreciation to accumulated depreciation
when displaying in the balance sheet

* reversing debit and credit entries in the balance sheet

* failing to show full titles in the journal or ledger, e.g.,
'depreciation' rather than 'depreciation of motor vehicles'

* treating depreciation directly through the asset count

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