yesterday I was studying and got to much confused that it seems like change of policy but educator is saying it is the change in policy
how it is a change in policy?
Menu
AS-5 is changing of method of depreciation from SLM to WDV is change in estimate or change in policy
Replies (3)
Quick Summary
Why are you surprised. This gaap accounting is a headache for non ca's. There is nothing we can do apart from following the priciples. I deal with as, indas amd ifrs and I dont feel too good cause i dont byheart and my gist must be 100% accurate. If i take cpa reporting exam, if probably thebclass topper. Policy is a policy and disclosures. Fyi slm is genrally the accepted method. But there is one thingvcalled MODIFIED ACCELRATED DEPRECIATION or something like that which changes the policy and its purely tax planning.
Itd called as macrs. And its a change in estimate.
Change in depreciation method is change in accounting estimate.
Recent Topics :
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
Related Topics :
CAclubindia
