METHOD OF DEPREICATION CHANGED
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 January 2011
Hi
Respected Memebers]
I want to know if suppose one fixed asset sold and thereafter method of depreciation is changed from WDV to SlM OR vice versa.
SO by this depreciatin shall be recalculated retrospective effect from the date of asset come to use.
So my question is Whether depreciation shall recalulated on sold asset?
is there any provision of such?
Respected Memebers]
I want to know if suppose one fixed asset sold and thereafter method of depreciation is changed from WDV to SlM OR vice versa.
SO by this depreciatin shall be recalculated retrospective effect from the date of asset come to use.
So my question is Whether depreciation shall recalulated on sold asset?
is there any provision of such?
07 January 2011
No it should be calculated on existing assets only and not on sold assets as it wont affect the P & L.
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