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what are the diffrences between the two
From India , Udaipur
Depreciation is concerned with Tangible assets. The assets which we can see and touch can depreciate; like machinery and building among others. Their costs are spread over the number of years. Depreciation takes into account the wear and tear of the tangible assets. The moment you own or use the assets, it starts depreciating
Amortization is concerned with intangible assets. The assets which we can’t see or touch but we can feel like patents and copy rights come under intangible assets. It is the part of capitalized expenditure and preliminary expenditure which is usually distributed over the number of years. It is also fixed by company’s law and it can rapidly change. Basically, in amortization the intangible assets are written off over the number of years.

From India , Hyderabad
I AM GOING TO MAKE THE PREVIOUS EPF ANNUAL RETURN FOR THE PERIODS 1993 TO 1995 PL. TELL ME HOW TO MAKE THE EPF ANNUAL RETURN FOR THE PERIODS OF MAR-1993 TO FEB-1995
From India, Nagpur
how to accounted P.F , ESI and Profession Tax ? a pvt ltd company has 21 employees and every employee is getting salary above 15000, how to prepare the salary sheets and pay slips?
From India, Hyderabad
Our company is manufacturing industries.as per customer specific requirment we raised tooling invoice after charged central excise duty this is correct ?
We have making above tool in house.
Please advice what is effect in our balance sheet and secondly what is effect in monthly return ?

From India, Nashik
Amortization
Amortization is a method of spreading the cost of an intangible asset over a specific period of time, which is usually the course of its useful life. Intangible assets are non-physical assets that are nonetheless essential to a company, such as patents, trademarks, and copyrights. The goal in amortizing an asset is to match the expense of acquiring it with the revenue it generates.
Depreciation
Like amortization, depreciation is a method of spreading the cost of an asset over a specified period of time, typically the asset's useful life. The purpose of depreciation is to match the expense of obtaining an asset to the income it helps a company earn. Depreciation is used for tangible assets, which are physical assets such as manufacturing equipment, business vehicles, and computers. Depreciation is a measure of how much of an asset's value has been used up at a given point in time.
The key difference between amortization and depreciation is that amortization is used for intangible assets, while depreciation is used for tangible assets. Another major difference is that amortization is almost always implemented using the straight-line method, whereas depreciation can be implemented using either the straight-line or accelerated method. Finally, because they are intangible, amortized assets do not have a salvage value, which is the estimated resale value of an asset at the end of its useful life. Depreciated assets, by contrast, often have a salvage value. An asset's salvage value must be subtracted from its cost to determine the amount in which it can be depreciated.

From India,
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