Accumulated Depreciation Office Furniture
Code: 1224
👁 Views: 138
Account Information
| Financial Statement | Statement of Financial Position |
| Normal Balance | Credit |
Definition
Accumulated depreciation of office Furniture etc Office Desk, Decoration and other and this account called also Furniutre and Fixture
Note: This account may be broken down into sub-ledgers as needed (e.g., Main_Office/Branch office or Decoration, Furniture, ).
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IAS 16
Property, Plant and Equipment
US GAAP
ASC 360
Property, Plant and Equipment
❓ Frequently Asked Questions
Q: What is accumulated depreciation - office furniture?
A: A contra-asset account shown as a deduction from office furniture and equipment cost, representing total accumulated depreciation.