Lost Company Laptop: How to Handle Full and Final Settlement Without Depreciation?

I have lost the laptop given to me by my company (I had kept it in the office, but it is not there now). I have since resigned from the company and would like to proceed with the full and final settlement. I attempted to contact the Head Office to inquire about the deduction from my settlement amount. They have informed me that the deducted amount will be the same as the original purchase price of the laptop in 2011. Despite the laptop being used by someone else before me, they mentioned that no depreciation would be applied.

Kindly Advise on Next Steps

Kindly advise me on the next steps.

Thank you.

Asset Valuation Post-Depreciation

It is generally an accepted practice to value an asset post-depreciation. It is also dependent on how the organization writes off an asset over a period of time; this is governed by the Assets Policy in the organization. You should first check with the Head Office on what basis the value is being calculated. It is only logical to consider the depreciated value and not otherwise. Hence, please go ahead and seek clarifications about the matter. You may take a stand of paying only the fair value as of the date of the last use and not the actual purchase value.

I hope this helps.

Regards.