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Fixed assets summary |
See Also
Adjustment of profit | Allowances - Plant | Disposals | Fixed asset addition analysis | Fixed assets | Profit and loss account / Income statement (D schedule)
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
This schedule allows the user to enter the details found in the fixed assets note in the accounts and is a control schedule, which allows for easier checking of the fixed asset figures to the accounts. The amounts are then cross checked to the values on the C schedule.
One copy only of the schedule may be developed.
Intergroup transfers
Where there are intergroup transfers that are entered on the specified lines, an additional section at the foot of this schedule becomes available to reconcile the net additions and disposals to C and C1 schedule capital allowance amounts.
Intangible assets
Additional columns before the total column may also be used to disclose intangible asset balances.
Fixed asset addition reconciliation
This is shown at the foot of the schedule. See Fixed asset addition reconciliation section for further details.
Reconciliation of depreciation to P/L account
For FY2000 and 2001 files, if a depreciation amount has been entered on the face of the D schedule but the reconciliation section of the Fixed assets schedule has not been completed, you will no longer get the series of green consequence error messages appearing on the A schedule. Instead a single error message is displayed on the Fixed assets schedule, prompting the user to reconcile the depreciation total.
Fixed asset addition reconciliation
This area of the screen has a column for each fixed asset caption in the accounts, which should match the column headings at the top of this schedule. The software then checks the total additions entered in each column with the amounts entered in the equivalent column above.
On the left-hand side the screen contains a row for each tax caption that the additions may fall into. The software checks the total of each of these rows with the equivalent row on the C schedule.
There are no standard sub-schedules.
Where a new period is built, the carry forward figures are automatically carried forward to the schedule for the later year.
© 2009 Thomson Reuters.