In one of the sums in FINANCIAL REPORTING, i came accross a sum for govt grants accounting, where grant was treated as pro-rata income as per the % of depreciation, that was charged on the asset. The method for calculating depreciation was WDV and the formula for WDV method was used to calculate the rate i.e. 1-nth root of (residualvalue/historical cost) where n = life in yrs.
I saw this sum, where life was 10 yrs.
If its 2 or 4 or 8 yrs its manageable, but how to calculate 10th root?? without log or with the calculator??
Query in financial reporting
CA Revati Galgali (B.com ACA DipIFR(ACCA) CS(Exe)) (1049 Points)
18 February 2012