04-15-2010, 12:47 AM
depreciation be calculated as to useful life not economic life that is according international financial reporting standards - ifrs standard
useful life means that future benefits divers from consume asset
example coputer asset its economic life is 10 years but future econonic benefit divers from that compuer life continue 3 years as to me as accountant to compane and i am resbonsible about correct treatement according ifrs i will treat that issue as follow
i will follow future benefit to asset and useful life to asset in this case i will treatment by useful life that is 3 years
good luke
useful life means that future benefits divers from consume asset
example coputer asset its economic life is 10 years but future econonic benefit divers from that compuer life continue 3 years as to me as accountant to compane and i am resbonsible about correct treatement according ifrs i will treat that issue as follow
i will follow future benefit to asset and useful life to asset in this case i will treatment by useful life that is 3 years
good luke
