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The students will be able to
  • To elucidate the meaning of depreciation and differentiate it from amortisation and depletion;
  • To utter the need for charging depreciation and identify its causes;
  • To calculate depreciation using straight line method and written down value method;
  • To record transactions relating to depreciation and disposition of assets;
  • To elucidate the meaning and reason of creating provisions and reserves;
  • To differentiate between reserves and provisions;
  • To explain the nature of various types of provisions and reserves including secret reserves and the accounting thereof.

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