PDF-Cost index and depreciation schedules

Cost Index North Carolina Department of Revenue Local Government Division STATE OF NORTH CAROLINA Introduction PROPERTY TAX SECTION Following this introduction is the 2015 Cost Index and Depreci. Basic idea is that an informed buyer won’t pay more than the cost of constructing an equal, substitute property minus the depreciation and assuming no delay.. Market data is used to value the components of the subject property including the land.. Chapter . 12. Accrued depreciation. Age-life method. Book value. Capitalized income method. Cost basis. Cost-to-cure method. Curable depreciation. Curable postponed. Current-value accounting. Deferred maintenance. Reference sections: 123(2) and Schedule II. . PART-A. 1- Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value. The useful life of an asset is the period over which an asset is expected to be available for use by an entity, or the number of production or similar units expected to be obtained from the asset by the entity. http://www.investopedia.com/terms/d/depreciation.asp. Depreciation. Buildings, machinery, equipment, furniture, fixtures, computers, outdoor lighting, parking lots, . cars, and . trucks are examples of . Chapter . 12. Accrued depreciation. Age-life method. Book value. Capitalized income method. Cost basis. Cost-to-cure method. Curable depreciation. Curable postponed. Current-value accounting. Deferred maintenance. All manufactured items decrease in value over time – as they wear out or are replaced by better technology.. This is called depreciation.. This is regarded as an expense.. The loss in value of an item can only be estimated as the real cost is only known when the item is sold.. EGN . 3615. ENGINEERING ECONOMICS . WITH SOCIAL AND GLOBAL IMPLICATIONS. 1. Engineering Economics and.... Chapter Outline. Basic Aspects of Depreciation. Straight-Line Depreciation. Declining Balancing. 3. Financial Accounting. For exams from February 2014. Key to icons. Syllabus. A The . context and purpose of financial reporting. B The . qualitative characteristics of financial information. C . Depreciation. – the reduction in value of an asset. Used to reflect remaining value of an asset over its useful life.. Book Depreciation. – used by corporations for internal financial accounting. 30. Chapter 9. Contemporary Engineering Economics. Copyright © . 2016. Chapter Opening Story . Delta Airlines has invested $100 million in improving luggage handling technology and equipment.. How. does the cost of this . Chapter . 12. Accrued depreciation. Age-life method. Book value. Capitalized income method. Cost basis. Cost-to-cure method. Curable depreciation. Curable postponed. Current-value accounting. Deferred maintenance. J C. Hobbs. Extension Tax Specialist. 580-237-7677. jc.hobbs@okstate.edu. Depreciation Tools. Based upon 2017 Tax Laws. Options available. Use in Income Tax Management. Depreciation. What is depreciable? (Machinery, equipment, vehicles, certain livestock, buildings, and other farm assets with a useful life greater than one year.). , Plant and Equipment (PPE). Items of . acquired . for safety or environmental . reasons . Biological Asset :-. Bearer Plant: . Is a plant that . (satisfies all 3 . conditions). Bearer Plant. RECOGNITION CRITERIA FOR PPE. BY ASST. PROF DR. J . SAHA. DEPARTMENT . OF COMMERCE. Depreciation. . Accounting. Definition. A measure of . the . wearing . out, consumption or other . loss of . value of depreciable . assets .