10 September 2010
If a Comapny changes the rate of depreciation for one and only one of its fixed assets then this fact will have to be disclosed in the Notes to Accounts or not.
10 September 2010
In my opinion yes,the disclosure is necessary.Please refer to AS 5.Relevant excerpt is quoted below. "Any change in an accounting policy which has a material effect should be disclosed. The impact of, and the adjustments resulting from, such change, if material, should be shown in the financial statements of the period in which such change is made, to reflect the effect of such change. Where the effect of such change is not ascertainable, wholly or in part, the fact should be indicated. If a change is made in the accounting policies which has no material effect on the financial statements for the current period but which is reasonably expected to have a material effect in later periods, the fact of such change should be appropriately disclosed in the period in which the change is adopted."