We are second to in offering services for Computation of Useful Lives of Assets. Our team of Chartered Engineers prepare impartial report to compute the useful lives of the asset keeping in view of the on the nature of tangible asset and number of working shifts. We render unbiased services efficiently for computation of Useful lives of the Assets in line with the requirement of Companies Act-2013 as and when required by the client. One can obtain the services at nominal rates.
More about Computation of Useful Lives of Assets
- Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value. The useful life of an asset is the period over which an asset is expected to be available for use by an entity, or the number of production or similar units expected to be obtained from the asset by the entity.
- It is imperative for all the companies to use assets as per Schedule II. If Asset Audits & Compliance is not considered, then they are required to justify the variation along with technical advice. One can consult for Asset Audits & Compliance and related aspects. We have experts to provide the best solutions.
Useful Lives to Compute Depreciation
- The new amendment in Companies Act, 2013 emphasises on the concept of useful life of assets by providing indicative life and residual value for assets in Schedule II.
- The Corporate Affairs Ministry has now said that useful lives of assets and the residual value specified in Schedule II should be ordinarily used by companies.
- In case, companies are using values that are different from the Schedule II, then they would be required to adequate disclosures in their financial statements to justify the variation along with technical