Depreciation
This query is : Resolved
11 June 2012
A Pvt co used to charge depreciation under wdv method using income tax rates, now it wants to charge depreciation using rates provided under the companies act. Does it constitute a change in accounting policy? How will the difference arising from retrospective calculation be treated under the revised sch-VI? What additional disclosures are required fro the same..
Regards,
Regards,
11 June 2012
mere change in the rates of depreciation dsnt amount to change in accounting policy.
diff arising in retrospective calculation is adjusted in p&l a/c.
in disclosure u have to mention that u have change ur rates of dep. reason behind them and wats the effect of changes in dep rates
diff arising in retrospective calculation is adjusted in p&l a/c.
in disclosure u have to mention that u have change ur rates of dep. reason behind them and wats the effect of changes in dep rates
19 July 2023
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