03 October 2008
I have actually facing problem that if asset have been revalued middle of the year then should I charge depreciation on revalued amount based on from the date of revaluation to the end of accounting period, or i will compute and charged depreciation on revalued amount for whole year?
04 October 2008
Depreciation will be on the revalued amount The excess depreciation on revaluation component will be charged to revaluation reserve created by revaluation.
CAclubindia
