Depreciation as per companies act 2013 for wdv

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28 Points Joined July 2014

Dear All,

I am using the WDV method for calculating the depreciation. Now to comply with Companies Act 2013, I am calculating the depreciation using the useful life of the asset as prescribed in the Schedule II instead of calculating the rates.

My Query : Will I have to calculate the amount with retrospective effect? Will it be considered as change in the method of calculating depreciation?

Thanks in advance

Regards,

C J

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On 30 June 2015 at 16:03 Report
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Yes, as u were charging dep.on wdv basis but now u want to consider useful life for dep rather then calculating rate i.e. slm method..

so this would amount to change in method of dep. and retrospective effect is need to be given in that case

 

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On 30 June 2015 at 20:16


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