Fixed Asset
Depreciation charge on a fixed asset when it is put to use, and not when it is ready for use. Depreciation is a method of allocating the cost of a it over its useful life, and it begins when the asset is available for use in the business. The asset is considered to be “put to use” when it is available for use in the normal course of business operations. Therefore, depreciation starts from the date on which the asset is put to use. And it continues until the end of its useful life or until it is disposed of.
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