Take This Quiz & Predict Your Score in the coming CA CS or CMA Exam!
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

Depreciation under Schedule II of Companies Act 2013

Depreciation under Schedule II of Companies Act 2013

Schedule II of Companies Act 2013 along with guidance note issued by ICAI for depreciation and understated points are need to be considered for the purpose of calculation of depreciation for the financial year 2014-15:

1.    If useful life of an asset has been taken under Schedule VI of Companies Act, 1956 more than the life is prescribed under Schedule II of Companies Act, 2013 and
•    Life has been expired as on 30.03.15 as per schedule II then WDV should be written off as on 31.03.15.
•    Life is remained unexpired as on 31.03.2015 as per schedule II then balance WDV should be written off in remaining year of the assets.

            Life Under
Purchased     Old Act    New Act    Treatment as on 31.03.15
2003-04    15 Year    10 Year    WDV as on 31.3.14 to be Written off as on 31.03.15
2003-04    20 Year    15 Year    WDV as on 31.3.14 to be Written off over next 5 Year

2.    Calculation of revised depreciation from acquisition of assets as on 31.03.14 and then adjust the difference of revised and original depreciation in profit & loss account is to be done only is case of change in method of depreciation. As companies is following WDV method of accounting and wants to shift from WDV to SLM then above calculation needs to be made otherwise Rate of WDV to be revised to write off the assets in remaining useful life. 

3.    A new concept of component accounting has been introduced which is option for the year 2014-15 and mandatory from 1.04.15. According to this, an asset is to be divided to the component to the extent possible and provide depreciation component wise.

4.    For shift uses depreciation calculated as per new provisions to be increased by 50%, in case of double shift and by 100%, in case of triple shift.

Depreciation under Schedule II of Companies Act 2013

At CAKART you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visit and chat with our counsellors any time. We are happy to help you make successful in your exams.


Click Here to download FREE CA CS CMA Text Books.

Leave a comment

Your email address will not be published. Required fields are marked *