{"id":1235,"date":"2023-06-13T06:20:55","date_gmt":"2023-06-13T06:20:55","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=1235"},"modified":"2024-05-14T05:12:05","modified_gmt":"2024-05-14T05:12:05","slug":"fixed-asset","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/fixed-asset\/","title":{"rendered":"Fixed Asset:Is depreciation charged on a fixed asset when it&#8217;s ready for use or when the asset is put to use?"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-18\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png\" alt=\"\" width=\"90\" height=\"43\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ.png 482w\" sizes=\"auto, (max-width: 90px) 100vw, 90px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/Fixed-Asset-300x300.png\" alt=\"fixed asset\" width=\"203\" height=\"203\" \/><\/p>\n<h4><\/h4>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/vibrantfinserv.com\/kb\/fixed-asset\/#Fixed_Asset\" >Fixed Asset<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/vibrantfinserv.com\/kb\/fixed-asset\/#For_more_information_to_visit_https_wwwmcagovin\" >For more information to visit https:\/\/www.mca.gov.in<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Fixed_Asset\"><\/span><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Depreciation is charged 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 fixed asset over its useful life, and it begins when the asset is available for use in the business. The asset is considered to be \\&quot;put to use\\&quot; 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.&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:8963,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:65280},&quot;11&quot;:4,&quot;12&quot;:0,&quot;16&quot;:10}\">Fixed Asset<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Depreciation is charged 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 fixed asset over its useful life, and it begins when the asset is available for use in the business. The asset is considered to be \\&quot;put to use\\&quot; 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.&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:8963,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:65280},&quot;11&quot;:4,&quot;12&quot;:0,&quot;16&quot;:10}\"> 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 &#8220;put to use&#8221; 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.\u00a0 And it continues until the end of its useful life or until it is disposed of.<\/span><\/p>\n<p>For further details access our website <a href=\"https:\/\/vibrantfinserv.com\/\">https:\/\/vibrantfinserv.com<\/a><\/p>\n<h4><span class=\"ez-toc-section\" id=\"For_more_information_to_visit_https_wwwmcagovin\"><\/span>For more information to visit <a href=\"https:\/\/www.mca.gov.in\/\">https:\/\/www.mca.gov.in<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-10332 aligncenter\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/3-300x300.png\" alt=\"\" width=\"193\" height=\"193\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/3-300x300.png 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/3-1024x1024.png 1024w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/3-150x150.png 150w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/3-768x768.png 768w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/3.png 1080w\" sizes=\"auto, (max-width: 193px) 100vw, 193px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/fixed-asset\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":7844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1459,7],"tags":[20020,40976,19428,42798,2152,34357,32471,34336,804,3059,21560,42782,20357,1550,40518,1480,40725,1492,30322,33587,33773,2088,33797,33782,42811,33784,33805,32588,42809,42799,42802,42795,42804,42789,32569,30119,33274,33290,1208,42784,42786,42806,42796,42800,29808,973,1682,30281,42808,33779,42791,30459,2143,34006,1488,987,42606,33275,40757,40727,42801,42812,42792,33285,42816,33303,21011,33288,33292,42780,1050,42793,42815,33308,42783,42813,42787,42805,2057,42807,2095,786,779,5885,639,30363,976,1830,5128,2086,42814,42785,42794,42797,42790,42781,42810,42788,42803,21008,29830,2096],"class_list":["post-1235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-account-finance","category-bookkeeping-and-accounting","tag-accountingadvice","tag-accountingbestpractices","tag-accountingclarification","tag-accountingdecisions","tag-accountingexpertise","tag-accountingexperts","tag-accountingguidelines","tag-accountinghelp","tag-accountinginsights","tag-accountingprinciples","tag-accountingprocedures","tag-accountingquestion","tag-accountingsolutions","tag-accountingstandards","tag-accountingtreatment","tag-amortization","tag-amortizationvsdepreciation","tag-assetaccounting","tag-assetappraisal","tag-assetbookvalue","tag-assetcost","tag-assetdepreciation","tag-assetdepreciationaccounting","tag-assetdepreciationcalculation","tag-assetdepreciationdecision","tag-assetdepreciationexpense","tag-assetdepreciationguidelines","tag-assetdepreciationmethods","tag-assetdepreciationmethodsquery","tag-assetdepreciationperiod","tag-assetdepreciationpractices","tag-assetdepreciationrules","tag-assetdepreciationstart","tag-assetdepreciationtiming","tag-assetdevaluation","tag-assetevaluation","tag-assetlifecycle","tag-assetlifecyclemanagement","tag-assetmanagement","tag-assetreadyforuse","tag-assetusecommencement","tag-assetusecommencementdate","tag-assetusecriteria","tag-assetusefullife","tag-assetutilization","tag-assetvaluation","tag-assetvalue","tag-assetvaluecalculation","tag-assetvaluedepreciation","tag-assetvaluemanagement","tag-assetwearandtear","tag-assetworth","tag-bookvalue","tag-capitalasset","tag-capitalexpenditure","tag-depreciation","tag-depreciationamortization","tag-depreciationcalculation","tag-depreciationcalculationmethods","tag-depreciationconcept","tag-depreciationconcepts","tag-depreciationconsiderations","tag-depreciationdoubts","tag-depreciationexpense","tag-depreciationknowledge","tag-depreciationmanagement","tag-depreciationmethods","tag-depreciationperiod","tag-depreciationpolicy","tag-depreciationquery","tag-depreciationrules","tag-depreciationstandards","tag-depreciationstartdate","tag-depreciationstrategy","tag-depreciationtiming","tag-depreciationtimingcalculation","tag-depreciationtimingquery","tag-depreciationtimingrules","tag-financialaccounting","tag-financialasset","tag-financialdecisions","tag-financialguidance","tag-financialinsights","tag-financialknowledge","tag-financialmanagement","tag-financialqueries","tag-financialreporting","tag-financialreportingguidelines","tag-financialreportingstandards","tag-fixedasset","tag-fixedassetevaluation","tag-fixedassetlifecycle","tag-fixedassetlifecyclemanagement","tag-fixedassetmanagement","tag-fixedassetreadyforuse","tag-fixedassetuse","tag-fixedassetusecalculation","tag-fixedassetvalue","tag-fixedassetvaluecalculation","tag-gaap","tag-ifrs","tag-usefullife"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fixed Asset \/ Article \/ VibrantFinserv -<\/title>\n<meta name=\"description\" content=\"Fixed Asset: Depreciation is charged on a fix-ed asset when it is put to use, and not when it is ready for use. 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