Welcome to The Forum SA. As a visitor you have read only access to the public content areas of this website. You will have to register as a member to access all content, post messages and network with our members. Membership is free and registering is quick and easy. You can click here to register now and become a member within minutes.
Personally, as vehicles make up such a large proportion of my fixed assets, I prefer to reflect the fair market value in my balance sheet.
Thus I have sub-accounts for each vehicle for accumulated depreciation (for taxcalc) and depreciation adjustments (to return nett asset value to fair market value).
It leads to other complications, of course, like deferred tax entries and a tax calc which is quite far removed from the reflected income statement - but definitely results in a better reflection of the actual financial position of the business and is worth the schlep (at least in my case).
We process personal data about users of our site, through the use of cookies and other technologies, to deliver our services, personalize advertising, and to analyze site activity. We may share certain information about our users with our advertising and analytics partners. For additional details, refer to our Privacy Policy.
By clicking "I AGREE" below, you agree to our Privacy Policy and our personal data processing and cookie practices as described therein. You also acknowledge that this forum may be hosted outside your country and you consent to the collection, storage, and processing of your data in the country where this forum is hosted.
Tweet
Comment