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Question

additional investment for fully depreciated asset

  • September 28, 2021
  • 4 replies
  • 128 views

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Hello Community,

I’m facing difficulties when i want to make additional investment for an asset that is fully depreciated.

 

 

My question is: can i change estimated life of the asset or i should create a new asset in order to perform additional investment? 

thank you

This topic has been closed for replies.

4 replies

JerryB
Hero (Employee)
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  • Hero (Employee)
  • 158 replies
  • September 28, 2021

@Thomas Peterson ...do have any advice for this?  It’s more a financial question than equipment or maintenance?


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  • Superhero (Employee)
  • 1040 replies
  • September 28, 2021

Hi, 

Accounting standards differ around the world. From a US / North American perspective, we would usually create a new object with estimated life for the new object. 

I know other parts of the world would do very different.   I’ve done projects all over the world, and can say - the handling of fixed assets probably differs more than any other topic from accounting standard to accounting standard. That and tax. 

Typically if you wish to add investment, IFS would not produce that particular message.  I’m thinking the process and values your trying to use are affecting the results in an adverse way.   

I also believe it may be best to enter the question in IFS Finance, as we have many people around the world who may be able to assist with your regional accounting standards.  If you enter a question similar to this. in Finance, it may be very helpful to mention the country where this question would apply.  

Best regards, 

Thomas


JerryB
Hero (Employee)
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  • Hero (Employee)
  • 158 replies
  • September 28, 2021

Thank you @Thomas Peterson 


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  • Author
  • Do Gooder
  • 3 replies
  • September 29, 2021

Thank you both for perspective and advices, I will switch to Finance.  

have a great day,

Cosmin


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