Estimates of useful life and residual value need to be reviewed at least at each financial year-end.
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There is no need for an annual review of estimates of useful life and residual value. An entity may review the same periodically.
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Depreciation on revaluation portion cannot be recouped out of revaluation reserve and will have to be charged to the P&L account.
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Depreciation on revaluation portion can be recouped out of revaluation reserve.
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Provision on site-restoration and dismantling is mandatory. To the extent it relates to the fixed asset, the changes are added/deducted from the asset in the relevant period.
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No guidance in the standard. However, guidance note on oil and gas issued by ICAI, requires capitalization of site restoration cost. Discounting is prohibited under Indian GAAP.
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Any appropriate Method can used
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Only SLM and WDV can used
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If payment is deferred beyond normal credit terms, the difference between the cash price equivalent and the total payment is recognised as interest over the period of credit.
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No specific requirement under AS 10.
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