Depreciation as per IFRS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2011
on jan 1 year 1 an entity acquires for $ 100000 a new piece of machinery with an estimated useful life of 10 years. the machine has a drum must be replaced every 5 years & costs $ 20000 to replace. continued operation of the machine requires an inspection every 4 years after purchase. the inspection cost is $ 8000. the co. uses the SLM Method of depreciation. under IFRS what is the depreciation expense for the year 1 ?
06 March 2011
The way of calculating depreciation in the above mention case...same as in the IND AS and even US GAAP.
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