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Fixed Asset Disposals

Fixed Asset Disposals

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Published by Rupert Parsons
User guide for the fixed asset program (excel)
User guide for the fixed asset program (excel)

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Published by: Rupert Parsons on Apr 23, 2013
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12/08/2014

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Fixed Asset ProgramManual
Fixed Asset Disposals
Fixed Asset Program ManualCopyright © 2013 Rupert ParsonsThis document is licensed under the Creative Commons Attribution Share Alike License version 3.You may copy, distribute and/or modify it under the conditions stipulated in the copyright licence.Click the link below to view the details of the copyright licence which applies to this publication:http://creativecommons.org/licenses/by-sa/3.0/deed.en
© Rupert Parsons 2013 1
 
Introduction
This chapter contains the following sections (each section starts on a new page):
In the year of disposal
The year after disposal
© Rupert Parsons 2013 2
 
In the year of disposal
Go to the row of the fixed asset which has been disposed.Go to
Date of Disposal
(column X).Enter the
date of disposal
in the yellow cell.
(use the short date format for your country e.g. 12/02/2012)
.
Important:
When you enter the date of disposal the program will automatically reverse the cost andaccumulated depreciation of the asset:
Do not enter the disposal adjustments in the cost & depreciation adjustment cells.
The program assumes that you are disposing of the entire asset. Dealing with part disposals isexplained at the end of this section.If a disposal date is entered before the accounting period, the program ignores the disposaldate.If the disposal date is after the accounting period, this will result in an input error.
The following pages explain how depreciation is calculated if the fixed asset is disposed beforethe end of its useful life and how to deal with part disposals.
© Rupert Parsons 2013 3

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