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If an there is change in method of depreciation from SLN method to WDV method, how do you treat the difference of depreciation ?

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تم إضافة السؤال من قبل C S Raghunandan Chikkaballapur Rao , Freelancer : , Presently Working for : Brindavan Agencies,Kreations and Sreevamsa sales Organisation.
تاريخ النشر: 2015/04/22
Abdul Majid Khatri
من قبل Abdul Majid Khatri , A Qualified Chartered Accountant , Honeycomb Logistics Pvt. Ltd.

When there is a change in method of depreciation then revised depreciation shall be calculated from retrospectively and any difference shall be charged i.e Debited/Credited to profit & loss Account..

Muhammad Rehan Tahir  ACCA
من قبل Muhammad Rehan Tahir ACCA , Treasury Manager , Farouk, Maamoun Tamer & Company

Change in depreciation method is change in accounting estimates as per IAS8. For example if you are depreciated asset of value100,000/- on SLN and estimated useful life of asset is 5 years. in the start of3rd year management decided to change the method to WDV. Carrying value of assets60,000 after two years SLN Dep. on this CV you have to charge the WDV % and the effect only is prospective.

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