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What is difference between depreciation and amortization? and which IAS or IFRS is used for that?

IAS IFRS Depreciation
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Question added by Zulfikar Ali Larik , SYSTEM AND PROCESS SPECIALIST (SPS) / BUSINESS ANALYST , Ceva Logistics FZCO
Date Posted: 2015/06/27
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Depreciation is for Tangible Non-Current Assets such as Property, Plant, Machines etc while amortization is for intangible non-current assets such a computer software, a license, brand name etc, having useful life of more than1 year. Depreciation is calculated as per IAS-16 and Amortization as per IAS-38.

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