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Condominium homeowners Association of B.C. A non-profit association serving strata owners since 1976 Bulletin: 400-007 (Jan. 24, 2012) WHAT A STRATA CORPORATION NEEDS TO KNOW ABOUT DEPRECIATION REPORTS
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What is 400-007 depreciation reports?
400-007 depreciation reports are financial documents that detail the depreciation of assets over a specific period of time.
Who is required to file 400-007 depreciation reports?
Companies and businesses that own depreciable assets are required to file 400-007 depreciation reports.
How to fill out 400-007 depreciation reports?
To fill out a 400-007 depreciation report, you need to list all depreciable assets, their original cost, their expected useful life, and the method of depreciation used.
What is the purpose of 400-007 depreciation reports?
The purpose of 400-007 depreciation reports is to accurately track the decrease in value of assets over time and to record this depreciation for accounting and tax purposes.
What information must be reported on 400-007 depreciation reports?
Information such as the description of assets, date of acquisition, original cost, accumulated depreciation, current book value, and depreciation method must be reported on 400-007 depreciation reports.
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