Current cost measurement

This topic has 1 reply, 2 voices, and was last updated 6 years ago by P2-D2.

Viewing 2 posts - 1 through 2 (of 2 total)

Author

Posts
May 9, 2020 at 1:05 pm #570398
Haameenatadams@gmail.com
Participant
- Topics: 1
- Replies: 0
In the lecture video, chapter 1 on measurement. Current cost was $250,000 on 31 dec, x2 and the carrying value was stated at $200,000 on 31 Dec, x2. Does this mean for current cost depreciation is computed retrospectively?
May 10, 2020 at 3:48 pm #570498
P2-D2
Keymaster
- Topics: 4
- Replies: 7235
Hi,

If we adopt current cost accounting then we wouldn’t go back and retrospectively charge the depreciation, we’d charge it from now going forward.

Thanks
Author

Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.