CO129-485 - Governor Sir Stubbs - 1924 [8-12] — Page 309

並此簡而易行者視為具文故規定折舊支出僅 以車輛為限蓋車輛為路產之一種其性質與他 種營業截然判別其壽命長短易於核算而其耗 損狀態亦甚明瞭且他國路政關於車輛消耗辦 法已有定論吾國皆可採用至現定辦法以車輛 為限不過改良會計之初步而非最後之目的自 不待言即此一端各路如能切實遵行收效已非 淺鮮如政府所管或商辦鐵路在車輛之外更以 他種產業之耗損列為折舊支出者此本會所馨

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The present Classification only provides for reserves against depreciation of rolling-stock. As stated before, all classes of property, with the single exception of land, are subject to de- preciation. Consequently from a strictly scientific point of view depreciation reserves should be set up for all other classes of property too. While fully aware of the soundness of this principle, the Commission after much deliberation deemed it advisable to start first with the depreciation on rolling-stock only, lest we err by attempting too much for theoretic perfection at the sacrifice of the most practical and urgent. Rolling stock is selected because this class of property is entirely separate from other classes, of which the records of life are easy to trace, and on which de- Moreover the preciation acts in an especially obvious manner. results of experiments made on this class of property by other countries are more definite than that on other classes. By limiting the depreciation charges to rolling stock, the Commission realizes [ 12 ]

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香禱祝非欲以議决辦法為限止也更應聲明者 折舊公積並非現款亦非資產不過平準表中借 方之一項僅表示某年或某月中應行列入借方 支出之數此純屬會計問題至應列貸方之數若 何準備以抵消此項支出之數應政府另為規 定折舊一項既非現欸自無貯庫之必要若存儲 .銀行所得利息較低(低於鐵路添借新資所出息率)自亦 不必定須存儲普通辦法每以拆舊之數暫時移 作該路增建改良之用以添置新產之時為限此

that it has gone only part of the way. But it also feels satisfied to say that if this much is properly done it will be achieving a great deal in the right direction of sound railway accounting and finance. Of course it goes without saying that by limiting its own recommendation, the Commission by no means intends to discourage the Government or the individual railways from going further by providing reserves for other classes of property also

when they see fit.

Attention must also be called to the fact that depreciation reserve is not a fund or asset but a liability charge. It does not represent cash or money. On the other hand it only shows what should be charged as a liability against the period concerned. So what the classification provides is only to make the proper charges in the accounts. As to how the assets may be set up to offset the charges, that question is left for the Government to

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