Skip to contentSkip to search

ACCA Forums

FRDepreciated asset - write off?

Former userFormer user12y ago

[Content removed at user request]

MikeLittleMikeLittleTutor12y ago#1
A company should regularly review estimated useful lives and adjust depreciation over the revised estimated life. In theory at least, no asset should be written down to zero if that asset is still in use
AFalkemist FCA (Jamaica), FCCA, CPA, CGA, MSc, BSc12y ago#2
A fully depreciated item which has not been e valued but is still in use is generally carried at $1 (or whatever the smallest unit of presentation is). This is to show that the asset is still in use.
Sign into reply to this topic.