Posting Depreciation Differences in the Finnish Version
In Finland, the following depreciation methods are commonly used for fixed assets:
- Straight-line depreciation which posts fixed assets to the general ledger.
- Declining balance depreciation which does not post fixed assets to the general ledger.
If two depreciation methods are used, Finnish tax legislation requires that the difference in accumulated depreciation between the different depreciation methods be calculated and posted to the general ledger.