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Corporate Laws & Corporate Governance Committee of the Institute of Chartered Accountants of India has brought an Application Guide on the Provisions of Schedule-II to the Companies Act, 2013.

The guide is intended to help ICAI members and other corporate in understanding and dealing with the provisions related to depreciation as per Schedule II to the Companies Act 2013 which has replaced the erstwhile Schedule XIV to the Companies Act, 1956.

The Guide comprises of the following useful chapters which are adequately supported by illustrations and examples.

1. Introduction
2. Objective
3. Scope
4. Shift from Rate based Guidance to Useful Life
5. Assessment of Useful Life and Residual Value
6. Useful Life or Residual Value governed by other Regulatory Authority
7. Depreciation for Intangible Assets
8. Component Accounting
9. Continuous Process plant
10. Double/triple shift working
11. Transitional Provision under Schedule II
12. Charging of depreciation in case of revaluation of Assets
13. Practical Examples

Apart from Schedule-II and erstwhile Schedule XIV, the guide also contains circulars and notifications issued by MCA on the subject so far.

Download ICAI Guide on Schedule-II Provisions related to Depreciation Click Here >>

ICAI-Application Guide on the Depreciation Provisions of Schedule-II to the Companies Act, 2013 |13-04-2015|