• From: India
  • Registered: 01/10/2018
  • Posts: 1

Topic: is funiture fixed assets?

Using furniture, for office use is fixed assets?

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: is funiture fixed assets?

If it is a very small value in consideration of you total assets / turnover / expenses, it may be claimed as 100 % depreciation or expenses - consult your local auditor. Depreciation is so that the asset does not get taken away by the staff or others. Good practice is to depreciate it in the books even if it is 100%.

apmuthu's Website