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Assets, recognition and inventory

Choose the first and last month convention for depreciation

Review half-month and full-month schedule behavior before registration.

Updated 2026-11-11

First and last month offers Half month at each end or Full month from service month for the supported schedule. Choose the convention approved for the asset's book treatment and compare the resulting preview before saving.

The convention works with the in-service date, useful life, cost and residual value. Inspect the first planned period and the total number of monthly periods rather than assuming that the visible useful-life number alone describes every schedule row.

Double-declining balance, monthly requires the full-month convention. If that method is unavailable while half months are selected, choose full months only if it matches the intended treatment. Do not change a convention merely to unlock an option without reviewing the accounting choice.

Save the register entry after its preview is consistent with the approved inputs. Later prospective estimates retain earlier terms and use their own current-month allocation rules. Keep the original convention in the asset history so differences between the initial plan and a later approved estimate can be explained.

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