What are the main transactions we can assess you on?

1. How to assess the value of a NCA (what should we add on to the base cost?)
2. The 2 basic equations for depreciation  (including reversing the equation around to find out the depreciation rates)
3. Whether we made a gain or loss on a sale for NCA
4. Preparation of ledgers (NCA, accumulated depreciation and how does it get transferred over)
5. Defining what is NBV and how too calculate it
6. Treatment of scrap value

Common Tricks

Less than a year → pay attention to phrasing if the depreciation is full year or has to be partial

Scrap value must NOT be depreciated

Assets being bought or sold → this will change the basis of your depreciation calculations