![]() The objective of depreciation accounting is to have each period benefiting from the use of the asset bearing an equitable share of the asset cost.Ģ. Depreciation Accounting - a system of accounting which aims to distribute the cost or other basic value of tangible capital assets, less residual value, if any, over the estimated useful life of the unit in a systematic and rational manner. ![]() International Accounting Standards (IAS)ġ. ![]() Government Accounting and Auditing Manualĩ. GS-PD16 re Revised Supplies and Materials Management and Control SystemĨ. SOP No GS-PD19 re Revised SOP on Fixed Asset Inventory, Monitoring and Control Systemħ. New Government Accounting System (NGAS)Ħ. 2005-002 dated ApRe Accounting Policy on Items With Serviceable Life of More Than One Year But Small Enough to be Considered as Property, Plant and Equipment.ĥ. 2003-007 dated Decemre: Adjustments resulting from the Revised Useful life of Property, Plant, And Equipment.Ĥ. 2004-05 dated Augre Amendment to the Provision of COA Circular No. ![]() 2004-003 dated Octore Computation of Depreciation Expenses of Government Property, Plant and Equipment with Revised Useful Life and Adjustments arising from the Revision.ģ. 2003-7 dated Decemre Revised Estimated Useful Life in Computing Depreciation for Government Property, Plant, and Equipment.Ģ. Title: Revised SOP on Depreciation Accountingġ. SOP NO: FS-GP21 (List of Exhibits/Attachments) ![]()
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