Depreciation rate
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 October 2012
In a company we were charging wrong rate of depreciation for printer for fy 2006-2011. Can we change the rate of depreciation from FY 2011-12. any retrospective affect????
03 October 2012
You need to mention the reasons for change in depreciation rate in accounting policies of the company and accordingly the retrospective effect of such change should be disclosed in financial statements.
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