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REGARDING CHANGE IN METHOD OF DEPRECIATION

This query is : Resolved 
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(Querist)
29 August 2023 IF ANY COMPANY FOLLOWS WRITTEN DOWN VALUE METHOD OF DEPRECIATION FROM THE INCORPORATION OF COMPANY, WHETHER SUCH COMPANY CAN CHANGE THE METHOD OF DEPRECIATION FROM NOW ONWARDS?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 August 2023 Yes, According to IAS 8 change in accounting estimate is treated prospectively i.e. if a depreciation method is changed then the carrying amount of the asset at the date of change will be depreciated on the basis of new method.
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