Nagamine & Mishima Consulting

Accounting practice since 1989

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Equipments

Equipments

With prices of computer related equipment going down there may be fewer items to book as assets but in case you do book as assets, below are things you need to be careful.

1. Purchase Price
2. Start of Business Use
3. Usage of Accelerated Depreciation
4. Disposal Date

Purchase price of equipment is most important since setup related fees are considered as part of purchase price. Check with your tax accountant so that you do not expense setup fees subject to asset recognition.This is a typical topic during tax audit.

The next important item is the date for start of business use. Just receiving the equipment from the vendor does not allow you to depreciate.

Depending on the time you purchase, there may be accelerated depreciation measures available, so check with your accounting office. Lastly, if you dispose equipments you will need some sort of proof that you had disposed the equipment. Your tax accountant will have ideas what type of documentation is necessary depending on the equipment.

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People are Talking

  • “Our Group operates worldwide in the fashion and luxury goods sector and is active in the design, production and distribution of a wide range of products that includes prêt-a-porter, footwear and leather goods.

    We started our collaboration with Nagamine & Mishima Accounting Office since we decided to establish our subsidiary Aeffe Japan in November 2008. N&M supported us during the start up of this company in particular with the accounting, payroll, cash management and tax services and gave their total collaboration when Aeffe Japan built-up Its own financial department. We found a very high quality support and punctual answers to different one-shot questions that also helped us to understand, in an easy way, a really different way to operate.

    After the start up phase, we decided to confirm to N&M the tax and payroll services for Aeffe Japan and for Moschino Japan, our other Japanese subsidiary, and the daily relationship with them passed from the Italian HQ to the Japan subsidiaries in a very simple way.

    We are very satisfied to have chosen N&M.”

    Andrea Pagliarani, Group Financial Controller

    Aeffe Japan KK