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TENDER FOR PROVISION OF BACKUP GENERATOR MAINTENANCE SERVICES MK T/9/2021/2022INVITATION DATE:27th April, 2021SUBMISSION DEADLINE:11th May, 2021TIME:12:00 NOON1Table of Contents 1.SECTION I INVITATION

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How to fill out provision of fixed assets

01

Determine the cost of the fixed assets that require provision.

02

Calculate the estimated value of depreciation or obsolescence for those fixed assets.

03

Record the provision amount in the financial statements as an expense.

04

Regularly review and adjust the provision amount based on the actual condition of the fixed assets.

Who needs provision of fixed assets?

01

Companies that own tangible fixed assets such as buildings, machinery, and equipment.

02

Companies that want to accurately reflect the decrease in value of their fixed assets over time in their financial statements.

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What is provision of fixed assets?

Provision of fixed assets is the allocation of funds for the depreciation of fixed assets over time.

Who is required to file provision of fixed assets?

Companies and organizations that own fixed assets are required to file provision of fixed assets.

How to fill out provision of fixed assets?

Provision of fixed assets can be filled out by recording the depreciation of fixed assets on the financial statements.

What is the purpose of provision of fixed assets?

The purpose of provision of fixed assets is to accurately reflect the decrease in value of fixed assets over time.

What information must be reported on provision of fixed assets?

Information such as the original cost of the fixed asset, the depreciation method used, and the accumulated depreciation must be reported on provision of fixed assets.

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