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Former Member
Aug 04, 2008 at 06:26 PM

Audit Adjustment in Asset Accounting


one asset which r not in operation & needs impairment. Auditor charge to some more depreciation to asset in the period of June,08. and want to reduce the Book value of the asset. Depreciation Expense Dr and Acc deperciation CR.

The revised book value will be let say 198000 USD & depre. should be charge on this value from July 01, 2008 . we are using the straight line deperc method in the asset.

Kindly advise how we post the unplanned depreciation in the period of june & should start the depreciation on new book value. Depreciation Run already executed for the month of June & July.