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Depreciation - retrospectively or prospectively

Others 223 views 3 replies

Yogesh Pandey

144 Points Posted on 05 April 2018

we estimated a new useful life of an assets. whether the depreciation applied retrospectively or prospectively?

Replies (3)

kevin gala

student

20 Points Posted on 05 April 2018

Prospectively as per revised AS 10- PPE

Tushar Mittal

student

73 Points Posted on 05 April 2018

propectively

Ashish Mishra

2 Points Posted on 05 April 2018

Useful life is already provided in Sch II of Co. Act,2013. You can't have different useful life unless there is some technical feasibility. As far as the Depreciation is concerned,it will be calculated prospectively.

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