Book Keeping Task/Depreciation
From PCSAR
(Difference between revisions)
| Line 5: | Line 5: | ||
50% of the stated rate is used for assets that are purchased within the financial year. | 50% of the stated rate is used for assets that are purchased within the financial year. | ||
| - | As of 2015-08-31 fiscal year end, | + | As of 2015-08-31 fiscal year end, PCSAR classifies its equipment as: |
| + | * Class 8 (20%) | ||
| + | ** The majority of PCSAR's assets | ||
| + | ** "certain property that is not included in another class", "other equipment you use in business." | ||
| + | ** Radios, Satellite Phones, inReach ("electronic communications equipment") | ||
| + | ** Trailers: because they are not passenger vehicles and they are not motorized | ||
* Computer: Class 46 (30%) | * Computer: Class 46 (30%) | ||
| - | |||
* Sierra Command Post: Class 10.1 (30%) | * Sierra Command Post: Class 10.1 (30%) | ||
* Pickup Truck: Class 10 (30%) | * Pickup Truck: Class 10 (30%) | ||
Revision as of 21:18, 27 January 2016
Amortization Expense
PCSAR follows Canada Revenue Agency’s Classes of Depreciable Property guidelines when depreciating assets. Assets are depreciated at the specified percentage each year. 50% of the stated rate is used for assets that are purchased within the financial year.
As of 2015-08-31 fiscal year end, PCSAR classifies its equipment as:
- Class 8 (20%)
- The majority of PCSAR's assets
- "certain property that is not included in another class", "other equipment you use in business."
- Radios, Satellite Phones, inReach ("electronic communications equipment")
- Trailers: because they are not passenger vehicles and they are not motorized
- Computer: Class 46 (30%)
- Sierra Command Post: Class 10.1 (30%)
- Pickup Truck: Class 10 (30%)
