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Straight Line Method
Straight line method is a method used in accounting. It is the simplest method used to calculate depreciation in the value of assets over a period. Depreciation is defined as the fall in the value of assets that a company hold in its account over a period of time. There are two methods to measure depreciation and Straight Line Method is one of them. In this method, the cost required for purchasing the assets is compared with usefulness of the asset. It is one of most useful ways. The details concept of straight line is given under Advantages and Disadvantages of Straight Line Methods Assignment Help.
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Advantages and Disadvantages
There are both advantages and disadvantages of Straight Line method. The advantages explained in Advantages and Disadvantages of Straight Line Methods Assignment Help are:-
• It is the simplest method of providing depreciation which can be understood even by an ordinary person. It is very easy to calculate depreciation by this method.
• Straight Line method is suitable for small firms because it is very simple, easy and convenient.
• This method is very useful in small firms which have both old and new machines as the weaknesses of this method are removed. The high maintenance cost on the old machines and low cost on new machines balance each other.
• This method is useful for charging depreciation on assets of lesser value such as fittings, patents etc.
• The total amount of depreciation charged can be calculated by multiplying the yearly amount of depreciation with number of years.
• The steps involved in Straight Line method for calculation is very easy and quick.
• In this method we can put a zero value for an asset, as it is calculated over the cost of the asset which can be easily divided over the life of the asset.
• It is one of the widely used and acceptable accounting methods.
• It can also be applied for long-term assets.
The disadvantages explained in Advantages and Disadvantages of Straight Line Methods Assignment Help are:-
• No interest is received as the amount of depreciation charged every year is not invested outside the firm.
• Straight Line method of depreciation is not useful for assets like machinery. As depreciation is constant but the repairs on such assets will be heavy in future.
• Due to this method a lot of pressure is put on the use of assets in the final years.
• This is an illogical method in calculating depreciation of an asset.
• There is no provision for replacement. The firm has to bear the cost of replacing the asset that depreciates over a period of time.
• Straight Line method is not suitable for those assets which are subjected to additions and extensions from time to time.
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