Depreciation Calculator | Schedule II | Companies Act 2013

Calculator for Depreciation under Schedule II (upto F.Y. 2020-21)

I am sharing with you an exclusive Calculator for working Depreciation on the Property, Plant & Equipment (hereinafter referred to as “PPE”) of the Companies in accordance with the Schedule – II under the Companies Act, 2013. This calculator is updated till F.Y. 2020-21. By providing some basic information about the PPE, the user will be able to get the followings

1. Calculation of Life-time Depreciation of a particular PPE.
2. Profit/loss on disposal (i.e. Sale/Discard) of a PPE.
3. A complete PPE Register for the F.Y. 2019-20.

For the purpose of calculating the depreciation, the user is expected to provide the following few basic information about the PPE:

1. Applicable method of depreciation viz-a-viz. WDV or SLM;
2. Type and description of the PPE as per Schedule – II;
3. Date and cost of Acquisition;
4. Estimated Scrap Value (restricted maximum upto 5% of cost);
5. In case where the PPE is acquired before 01.04.2014, Opening Value;
6. Selection of number of Shifts of use of a particular PPE; and
7. Date of disposal and sale consideration, if applicable.

Features of Depreciation Calculator under Schedule II of Companies Act , 2013:

This Depreciation Calculator is quite user-friendly and contains several remarkable features such as…

• The use of this depreciation calculator is very simple and all requisite instructions for use are provided therein. The user should read the same first.
• The user is required to provide only some basic information about a PPE for which the guided comments are also provided in respect of each of such editable field. The user should read the same before feeding the data.
• This Calculator is helpful for working depreciation under both the methods viz-a-viz. SLM and WDV methods of depreciation.
• The user can calculate the depreciation for different number of shifts i.e. single shift, double shift or triple shift as per the usage of the particular PPE.
• In the event of disposal of PPE, this Calculator provides the details of Profit/Loss on disposal of such PPE.
• This Calculator also provides effects on the Retained Earnings as on 01.04.2014, if any.
• By entering only the basic information about the PPE, the user will be able to get the working of life-time depreciation of that particular PPE.
• The user can create COPY of complete working of a particular PPE and PASTE the same to the destination file for all future references.
• Besides above, this calculator also contained a Distinguished Feature of enabling preparation of the PPE Register (Master Data) for the F.Y. 2019-20.
• This Calculator is updated till the Financial Year 2020-21.

I hope that this Depreciation Calculator will be very helpful to all users and it will make task quite easy while also save time & cost involved to a great extent.