AS-5 is changing of method of depreciation from SLM to WDV is change in estimate or change in policy
Anamol Agrawal (29 Points)
21 December 2022how it is a change in policy?
Anamol Agrawal (29 Points)
21 December 2022
Yasaswi Gomes new
(Finance )
(4503 Points)
Replied 21 December 2022
Why are you surprised. This gaap accounting is a headache for non ca's. There is nothing we can do apart from following the priciples. I deal with as, indas amd ifrs and I dont feel too good cause i dont byheart and my gist must be 100% accurate. If i take cpa reporting exam, if probably thebclass topper. Policy is a policy and disclosures. Fyi slm is genrally the accepted method. But there is one thingvcalled MODIFIED ACCELRATED DEPRECIATION or something like that which changes the policy and its purely tax planning.
Yasaswi Gomes new
(Finance )
(4503 Points)
Replied 21 December 2022
Itd called as macrs. And its a change in estimate.
Manish
(CA)
(1158 Points)
Replied 21 December 2022
Change in depreciation method is change in accounting estimate.
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