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Can a fully depreciated asset be revalued?

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Question ajoutée par Rana Alnajjar , Web developer , Lebcards
Date de publication: 2016/12/18
Soliman Abd  ALmalak Gendy
par Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

A fully depreciated assets can't be revealed, Fully depreciated assets that continue be used are reported at cost property. *THe cost principle prevent the company from recording more than its actual cost

Nazmul Islam CMA
par Nazmul Islam CMA , Manager , Robi Axiatal Ltd.

A fully depreciated asset can't be revalued.

FITAH MOHAMED
par FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

a fully depreciated asset  can be revalued  in  special cases such  purching acompany  or partener  come in or  out

manseer muhammed ali
par manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

No. A fully depreciated asset cannot be revalued because of accounting's cost principle, matching principle, and going concern assumption.

 

For instance, let's assume that a company purchased a building 30 years ago at a cost of $600,000. The company then depreciated the building at a rate of $20,000 per year for 30 years. Today the building continues to be used by the company and it plans to continue using it for many more years. The company's current balance sheet will report the building at its cost of $600,000 minus its accumulated depreciation of $600,000. In other words, the building will be reported at its book value of $0.

Majid Wangade
par Majid Wangade , Senior Accountant , KANTOUR LIMITED COMPANY ( Real Estate, Construction and Asset Management )

fully depreciated asset cannot be revalued because of accounting's cost principle, matching principle, and going concern assumption.