The non-current asset register
The register lists every asset a business owns, with its cost and depreciation. Learn to update it and check it to the ledger.
Task 1What the register records3 questions
The non-current asset register is a list of every non-current asset the business owns, one line for each.
- A description, a serial number and where the asset is kept
- The date it was bought and what it cost
- The depreciation method and rate
- Accumulated depreciation and carrying amount
- When it was disposed of, and for how much
The register is not part of the double entry. It is a supporting record that holds the detail behind the totals in the general ledger.
Task 2Updating the register at the year end4 questions
Task 3Checking the register3 questions