Schedule of non-current assets

Question 1

What does it show?

Answer 1

It shows how the cost, provision for depreciation and net book value of each type of non-current asset have changed during the year

Question 2

What are the vertical columns

Answer 2

The type of non-current asset. e.g. Land and buildings, machinery etc

Question 3

What are the horizontal columns sections?

Answer 3

Cost (As at start of year, As at end of year)

Depreciation (as at start of year, As at end of year)

Net book value at start of year
Net book value at end of year

Question 4

Benefits of schedules of non-current assets 3

Answer 4

Show breakdown of netbook value between cost and provision for depreciation
Depreciation for year shows impact of non-current assets on company’s profitability
Required by regulatory framework

Question 5

Limitations 3

Answer 5

Historical information
Summarised information
Figures for depreciation may not be accurate, and therefore so may net book value.