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Hello Gromit
can you please help me to understand these two statements below?
“Perform a proof in total calculation for the depreciation charged for
each category of assets, discuss with management if significant
fluctuations arise”“Recalculate the depreciation charge for a sample of assets”
aren’t the two statements similar?
Proof in total = calculate depn on total of an asset class.
Recalculate for sample of. Assets = pick sample from non current asset register and recalc depn. Should be close to actual charge.
Won’t be exactly the same. Eg some assets might be fully depn so should not be further depreciated, but this is concealed in the total calculation.
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