THE ACCOUNTANT, THE FINANCIAL MANAGER AND THE TAX OFFICIALS CONCEPTION OF DEPRECIATION AND CAPITAL ALLOWANCES IN BUSINESS OPERATION.
There are few if there is any business enterprises or organization that do not make use of fixed assets in one form or the other in their operations.
A sole proprietorship form of business unit for example a barrier or a retailer has fixed assets in the form of furniture and fittings, sheds or kiosk, mirror etc. The poor woman in the street who runs a retail shop may not find it very possible to manage without such things are shop, a table to display her wares and a chair and benches for herself and her customers. [Read more…]