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Depreciation

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(Querist)
14 March 2009 The asset is wrongly classified as P&M instead of Intangible asset. whether Amortisation/ Depreciation shall be with retropective or propective effect?
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
14 March 2009 retrospective effect
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Khushboo Savla

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Khushboo Savla (Querist)
14 March 2009 Can u plz tell disclosure requirement of the above in relation to AS.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
14 March 2009 Prior period items are income or expenses which arise in the current period as a result of errors or omissions in the preparation of the financial
statements of one or more prior periods.


refer AS-5.

http://www.icai.org/resource_file/247accounting_standards_as5new.pdf
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