CONTENTS CHAPTER 1Basic Principles Governing DepreciationCHAPTER 2Key Highlights of Schedule II to the Companies Act, 2013CHAPTER 3Comparison of SLM Depreciation rates under Schedule II to the Companies Act, 1956 and Schedule XlV to the Companies Act,2013CHAPTER 4Comparison of WDV Depreciation rates under Schedule II to the Companies Act, 1956 and Schedule XlV to the Companies Act,2013CHAPTERS 5Industry Specific Examples on Depreciation ComputationCHAPTER 6Amortisation under the Companies Act, 2013CHAPTER 7Impact of impairment on DepreciationCHAPTERS 8Transitional Provisions under the Companies Act, 2013CHAPTER 9Depreciation in Special CircumstancesCHAPTER 10Disclosure Requirements under the Companies Act, 2013CHAPTER 11Other Provisions in the Companies Act, 201 3 involving the use of depreciation CHAPTER 12Practical IssuesAbout The BookThe Recently introduced Companies Act, 2013 is rightly termed as the dawn of a new era. Apart from bringing far reaching changes in other areas, the spectrum of financial reporting has widened and bringshigher responsibilities on those associated with financial reporting, be it the auditors or the management.A Practical Guide to Depreciation under the Companies Act, 2013 is the first publication in our series on Financial Reporting, which aims at explaining the finer changes in depreciation in a simple language with real life examples.ContainsΓ* Concept of useful life as against the minimum rates of depreciationΓ* Concept of component accounting, which is voluntary from 2014-15 and mandatory from 2015-16 under the Companies Act, 2013Γ* Transitional provisions due to shift from minimum rates of depreciation to the concept of useful lifeΓ* Treatment of plant and machinery upto Rs. 5,000Γ* Amortisation principles for intangible assetsΓ* Line-by-line comparison of effective rates of depreciation under the Companies Act, 1956 and the Companies Act, 2013 both under SLM and WDVMethodΓ* Impact of change in depreciation rates on various industriesΓ* Guidance on residual valueΓ* Guidance on large number of practical issuesΓ* Other provisions in the Companies Act, 2013 that relate to depreciationΓ* Text of Schedule XIV to the Companies Act, 1956 and Schedule II to the Companies Act, 2013 & other useful annexuresAbout The AuthorCA. R. SankaraiahΓ* CA. R. Sankaraiah is Group Finance Director, Jubilant Bhartia Group and Executive Director, Finance, Jubilant Life SciencesLtd .Γ* He is a member of the IFRS advisory council of IASB, SEBI Committee on Disclosures and Accounting Standards (SCODA) as well as ClI National Council on Corporate Governance & Regulatory Affairs.Γ* He is a member of the CFO working group formed by MCA to look into the issues related to Convergence of IGAAP with IFRS and is also a member of the Coalition on International Taxation, in India.Γ* He has also been a Government Nominee on the Central Council of ICSI.Γ* He has a rich and varied experience spanning across key areas such as Mergers & Acquisitions, Financial Engineering, Profit Management Systems, Forex Management, Taxation, Legal, Secretarial, etc, acquired during his career of over 25 years.