course bg
EduPristine>Blog>Fixed Asset Schedule

Fixed Asset Schedule

January 9, 2012

In the previous post, we saw how to create a Profit and Loss statement. If you did have a look at the templates that we provided, you could have seen that we had also provided the Asset Schedule and the Debt Schedule. This post is on how to create the Asset Schedule.

Fixed Asset

Fixed assets are the long term tangible assets that cannot be converted into cash easily. Fixed assets are used for the production of net income. Fixed Assets are also known as non-current assets.

Example of fixed assets is building, property, plant & equipment (PP&E), furniture etc.

Intangible assets such as patent, copy rights etc are generally not categories as fixed assets but referred to as fixed intangible assets.

Procedure for preparing Asset and Depreciation Schedule

Step 1: Add the old Plant & Equipment with the new purchased

Asset Schedule

Step 2: Calculate the depreciation on Plant and Equipment using SLM

Old P&E:

Calculating the depreciation on OLD Plant and Equipment using straight line method

New P&E:

Calculating the depreciation on NEW Plant and Equipment using straight line method

Total Depreciation is the sum of depreciation on old and new plant & equipment

total depreciation

Step 3: Calculate the Accumulated Depreciation

Accumulated Depreciation = sum of depreciations on an asset till date.

calculating accumulated depreciation

Incase you have any doubts or queries, mention it in the comment box below

About Author

avatar EduPristine

EduPristine is a member of Adtalem Global Education (NYSE: ATGE), a global education provider headquartered in the United States. Adtalem is a 3 billion dollars (20,000 crores) company that has about 9 institutions and companies with more than 16,000 employees spread across 145 locations. Adtalem takes pride in training 142,000 degree-seeking students all over the world.The organization's purpose is to empower students to achieve their goals, find success and make inspiring contributions to our global community. EduPristine is one of India's leading training providers in Analytics, Accounting, Finance, Healthcare, and Marketing. Founded in 2008, EduPristine has a strong online platform and network of classrooms across India and caters to self-paced learning and online learning, in addition to classroom learning


Interested in this topic?

Our counsellors will get in touch with you with more information about this topic.

* Mandatory Field

Post ID = 10815