Hi all,
I am working on following issue.
https://issues.apache.org/jira/browse/OFBIZ-1539This issue is regarding to the implement the services for depreciation
algorithms.
Here first I implement the Straight Line and double declining depreciation
algorithm.
formula for straight-line depreciation: (purchase cost - salvage cost) /
estimated life in years of the asset
formula for double-declining balance depreciation: (purchase cost - salvage
cost) * (1 / estimated life in years of the asset) * 2
Here I have some queries, the description is as follows:-
1) StraightLine formula, here the Purchase cost is require. Here I am not
getting where is the purchase cost of FixedAsset store in the Database.
2) Double Declining Method ; I think that here the purchase cost means the
NBV(Net Book Value) i.e. the last financial year cost of Asset( Asset Value
- depreciation). Means while preparing the accounts for the current
financial year the depreciation value should reduce from the the current
value of Asset and then the updated asset's value should store somewhere in
database. Let me know if i am correct. Also please tell where is this value
store.
Also I am preparing the demo data for a FixedAsset to test the service.
Now As you know that :-
"The cost of machinery and equipment includes the purchase price, freight
and handling charges, insurance on the equipment while in transit, cost of
special foundations if required, assembling and installation costs, and
costs of conduction trial runs. Costs thus include all expenditures incurred
in acquiring the machinery or equipment and preparing it for use, plus the
market value of any trade-ins or exchanges".
Here it seems that it is require to prepare seed data for all OTHER_COST .
Now my question is that for which entity should we prepare the data, can i
use FixedAssetStdCostType ?
Also Is the Purchase Cost of Fixed asset is the sum of purchase price and
all other cost.
--
Sumit Pandit
Locked
