Depreciation - Office Furniture & Equipment
Code: 5261
👁 Views: 20
Account Information
| Financial Statement | Income Statement |
| Normal Balance | Debit |
Definition
Depreciation expense for office furniture (desks, chairs, cabinets) and office equipment (calculators, shredders) used in administration.
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IAS 16 / IAS 38
PPE / Intangibles
US GAAP
ASC 360 / ASC 350
PPE / Intangibles
❓ Frequently Asked Questions
Q: How is office furniture depreciation calculated?
A: (Furniture cost - Salvage value) ÷ Useful life (usually 5-10 years) using the straight-line method.