Depriciation method
This query is : Resolved
Kiran Sonavane
(Querist)
12 July 2012
Company will change of its method of depreciation any time like SLM and WDV ?
CA BHARATH KUMAR
(Expert)
13 July 2012
A change from one method of providing depreciation to another is made only
If the adoption of the new method is required by statute; or
For compliance with an accounting standard; or
If it is considered that the change would result in a more appropriate preparation or presentation of the financial statements of the enterprise.
If the adoption of the new method is required by statute; or
For compliance with an accounting standard; or
If it is considered that the change would result in a more appropriate preparation or presentation of the financial statements of the enterprise.
shakti soni
(Expert)
16 July 2012
I perfectly agree with Mr bharath kumar......and pls note some additional points
1. Retrospective effect should be given
and 2. change should be mentioned in notes to Accounts.
Rgds
Shakti Soni
1. Retrospective effect should be given
and 2. change should be mentioned in notes to Accounts.
Rgds
Shakti Soni
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