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Deprecator - Know your fixed asset depreciation APK Description
Are you a Small business owner, finance accounts manager, Chartered accountant or commerce graduate who does profit loss accounting and book keeping? Do you manage your company's assets and wondered if there you could calculate asset depreciation in a jiffy? Our Deprecator app helps you calculate fixed asset depreciation as per Companies Act 2013 of India. Be it Written Down Value or Straight line method we calculate both with ease. Moreover the calculator works offline without a need to connect to internet (except the first time you would need to download the app). The app is a free tool that we built as part of Whenda Asset Management SaaS product for Small and Medium Enterprises in India. This app is free to use and free of advertisements too.
If you are a budding commerce graduate, then read further to understand more about assets and depreciation.
Depreciation is a reduction in value of an asset over time due to wear and tear. Computers, phones, manufacturing machinery, appliances, building infrastructure, furniture vehicles etc are typically the assets a company holds and maintains.
An asset is something that a company purchases for long term use. Also that which can't be quickly converted to cash. It’s a standard practise for companies to classify all asset purchases as capital expenditure and account for it in Assets and Liabilities in the company's balance sheet. Depreciation calculation is the way to arrive at this assets and liability entry in the balance sheet. Indian Companies Act 2013 describes the various categories of assets and their useful lives. Assets like computers can have an useful life of 3 years, while vehicles can have useful lives of up to 10 years.
There are two ways to depreciate an asset. One is called the straight line method and the other is called Written Down Value method.
As the name indicates, straight line method means depreciating an asset equally over each year of its useful life. In simple terms, if a computer is bought for 30,000; the company can depreciate for 10,000 (i.e., 30000 divided by useful life of 3 years) for every year for next three years. This is assuming that the computer has zero residual value (or salvage value) at the end of 3 years. If we consider that the computer has a residual value of 3000, then the depreciation as per straight line method works out to be 9,000 (i.e., the difference between purchase price of 30,000 and residual value of 3000 is divide equally for 3 years. This is 27000/3 = 9000)
Written down value or reducing value method is an accelerated method of depreciation where we depreciate the asset faster during the initial years of its useful life. A rate of depreciation is arrived by subtracting the result of dividing residual value by the purchase value and raising it to the power of inverse of its useful life from 1.
i.e, Rate of WDV depreciation = (1- (residual value / Purchase price)^(1/useful years))*100
Lets consider the above example where a computer was purchased by your company for 30000. let us assume its residual value to be 3000 and useful life to be 3 years.
Then
Rate of WDV depreciation = (1-(3000/30000)^(1/3))*100 = 53.5841%
So for year 1 the depreciation will be 53.5841 *30000/100 = 16075.23
For year 2 the depreciation will be (53.5841 * (30000-16075.23)/100) = 7461.4627
For year 3 the depreciation will be (53.5841 * (30000 - 16075.23 - 7461.46)/100) = 3463.3065
At the end of third year the total depreciation will be 16075.23 + 7461.46 + 3463.31 = 27000.0
How to install Deprecator - Know your fixed asset depreciation APK for Android
Download Deprecator - Know your fixed asset depreciation APK file from APKPure.live, then follow these steps:
Update Phone Settings
- Go to your phone Settings page
- Tap Security or Applications (varies with device)
- Check the Unknown Sources box
- Confirm with OK
Go to Downloads
- Open Downloads on your device by going to My Files or Files
- Tap Install when prompted, the APK file you downloaded will be installed on your device.
How to install Deprecator - Know your fixed asset depreciation APK on Windows PC 7/8/10/11 or MAC?
Download Deprecator - Know your fixed asset depreciation APK file from APKPure.live to your PC (ex: C://Users/xxx/Downloads/, then follow these steps appear on screen.
Using Emulator:
- Download And Install one Emulator Softwares (Ex: Bluestacks, GenyMotion, NoxPlayer)
