In the first place - library books and journals do not come under goods as per the general financial rules, forget about depreciation. Books are invaluable asset of libraries. Asigning phsical or monetary value is meaningless.If books are damaged, they are removed and written off from the holdings and the original cost is deducted from the assets.
Dr Koteswara raoFormer librarian, UoH
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On Tue, Jul 28, 2015 at 2:23 AM -0700, "NIHAD FAISAL" wrote:
Dear professionals,
Could anybody suggest the useful life of library books to calculate the
depreciation in Accounting purpose? Our accounts department is asking
approximate years of using of print books for depreciation calculation.
kindly suggest your view in this regard.
Thanking you
Yours faithfully,
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