Quantcast

Fixed asset depreciation implementation

classic Classic list List threaded Threaded
4 messages Options
Reply | Threaded
Open this post in threaded view
|  
Report Content as Inappropriate

Fixed asset depreciation implementation

Jacopo Cappellato
Hi all,

we may use some help/advices/suggestions for the implementation of fixed
asset depreciation.
Here are the details:

https://issues.apache.org/jira/browse/OFBIZ-1539

Main points are:

1) is it ok to remove DepreciationMethod entity and use the more general
CustomMethod entity instead?

2) where should be stored the initial purchase cost of a fixed asset?

3) are the suggested depreciation algoritmns correct?

Cheers,

Jacopo
Reply | Threaded
Open this post in threaded view
|  
Report Content as Inappropriate

Re: Fixed asset depreciation implementation

Jacques Le Roux
Administrator
Hi Jacopo,

> Hi all,
>
> we may use some help/advices/suggestions for the implementation of fixed asset depreciation.
> Here are the details:
>
> https://issues.apache.org/jira/browse/OFBIZ-1539
>
> Main points are:
>
> 1) is it ok to remove DepreciationMethod entity and use the more general CustomMethod entity instead?

This looks good to me. Let us able to share between components.

> 2) where should be stored the initial purchase cost of a fixed asset?

Why not in FixedAsset itself along with date acquired ?

> 3) are the suggested depreciation algoritmns correct?

Except if Len Silverton was wrong they should be correct ;o)
Strange that he uses purchase cost and  salvage cost without defining them. Have we missed something existing in the book somewhere
(though he only suggest these 2 depreciation methods) ? BTW salvage value seems a more appropriate label. Except if I miss
something, we need to store it also. I would propose a new field in FixedAsset long with purchaseCost : salvageValue

Jacques

 Cheers,
>
> Jacopo
>
>

Reply | Threaded
Open this post in threaded view
|  
Report Content as Inappropriate

Re: Fixed asset depreciation implementation

Jacques Le Roux
Administrator
> Hi Jacopo,
>
>> Hi all,
>>
>> we may use some help/advices/suggestions for the implementation of fixed asset depreciation.
>> Here are the details:
>>
>> https://issues.apache.org/jira/browse/OFBIZ-1539
>>
>> Main points are:
>>
>> 1) is it ok to remove DepreciationMethod entity and use the more general CustomMethod entity instead?
>
> This looks good to me. Let us able to share between components.
>
>> 2) where should be stored the initial purchase cost of a fixed asset?
>
> Why not in FixedAsset itself along with date acquired ?
>
>> 3) are the suggested depreciation algoritmns correct?
>
> Except if Len Silverton was wrong they should be correct ;o)
> Strange that he uses purchase cost and  salvage cost without defining them. Have we missed something existing in the book
> somewhere (though he only suggest these 2 depreciation methods) ? BTW salvage value seems a more appropriate label. Except if I
> miss something, we need to store it also. I would propose a new field in FixedAsset long with purchaseCost : salvageValue

Sorry typo was "I would propose a new field in FixedAsset along with purchaseCost : salvageValue"


> Jacques
>
> Cheers,
>>
>> Jacopo
>>
>>
>
>

Reply | Threaded
Open this post in threaded view
|  
Report Content as Inappropriate

Re: Fixed asset depreciation implementation

Sumit Pandit-4
The suggestion given on fixed asset purchase cost is a great. Yeh it should
along with date aquire.
Now I have a question:
 purchase cost includes some other cost like freight and handling charges,
insurance and so on...(Description is along with jira issue
https://issues.apache.org/jira/browse/OFBIZ-1539)  where should these other
cost goes into the database.
Also i have confusion regarding to double decline method.
thanks for the suggestion.

On Jan 8, 2008 6:50 PM, santosh malviya <[hidden email]> wrote:

>
>
> ---------- Forwarded message ----------
> From: Jacques Le Roux <[hidden email]>
> Date: Jan 8, 2008 6:04 PM
> Subject: Re: Fixed asset depreciation implementation
> To: [hidden email], Jacques Le Roux <[hidden email] >
>
>
> > Hi Jacopo,
> >
> >> Hi all,
> >>
> >> we may use some help/advices/suggestions for the implementation of
> fixed asset depreciation.
> >> Here are the details:
> >>
> >> https://issues.apache.org/jira/browse/OFBIZ-1539
> >>
> >> Main points are:
> >>
> >> 1) is it ok to remove DepreciationMethod entity and use the more
> general CustomMethod entity instead?
> >
> > This looks good to me. Let us able to share between components.
> >
> >> 2) where should be stored the initial purchase cost of a fixed asset?
> >
> > Why not in FixedAsset itself along with date acquired ?
> >
> >> 3) are the suggested depreciation algoritmns correct?
> >
> > Except if Len Silverton was wrong they should be correct ;o)
> > Strange that he uses purchase cost and  salvage cost without defining
> them. Have we missed something existing in the book
> > somewhere (though he only suggest these 2 depreciation methods) ? BTW
> salvage value seems a more appropriate label. Except if I
> > miss something, we need to store it also. I would propose a new field in
> FixedAsset long with purchaseCost : salvageValue
>
> Sorry typo was "I would propose a new field in FixedAsset along with
> purchaseCost : salvageValue"
>
>
> > Jacques
> >
> > Cheers,
> >>
> >> Jacopo
> >>
> >>
> >
> >
>
>
>


--
Sumit Pandit
Loading...