Method for Calculating Depreciation of Fixed Assets at Units under the Ministry of National Defense

Anh Tu

05:23, 11/07/2024

The Ministry of National Defense has just issued Circular 13/2019/TT-BQP providing guidance on the management, depreciation, and amortization of fixed assets, as well as policies for reporting fixed assets that are specialized assets, assets used in management tasks at units under the Ministry of National Defense, and fixed assets assigned by the State to enterprises for management without being counted as state capital in enterprises under the Ministry of National Defense.

The annual depreciation rate of each fixed asset is calculated according to the following formula:

Annual depreciation amount of each fixed asset = Original cost of each fixed asset x Depreciation rate (%/year)

The depreciation rate of each fixed asset is detailed in Appendix 1 of this Circular 13.

Annually, based on the determination of the increase in depreciation and the decrease in depreciation arising during the year, the unit calculates the total depreciation amount of all fixed assets at the agency, organization, unit, enterprise for that year.

For details, see Circular 13/2019/TT-BQP, effective from March 18, 2019, replacing Circular 120/2015/TT-BQP.

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