UK Is the depreciation of fixtures and fittings reported in the accounts?


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Or is it only equipment that is subject to accumulated depreciation?
 
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Joined
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Hi, fixtures and fittings are legitimate fixed assets subject to depreciation provided they are expected to be used during more than one period
 
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J

John Baker

On the balance sheet, each asset is reported at total cost.
Another account, under each asset classification, reports the accumulated depreciation.
A sub total of each asset classification - net usually follows.
A summary of all assets in total and net accumulated depreciation and/or adjustments can be stated.
I would suggest reviewing your standard practices and procedures, with respect to full disclosure.
 

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