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Depreciation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Depreciation

  • This topic has 3 replies, 2 voices, and was last updated 1 year ago by P2-D2.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • October 30, 2021 at 5:39 pm #639499
    Nikitagarwal
    Participant
    • Topics: 153
    • Replies: 146
    • ☆☆☆

    In BPP exam kit –
    Page no. 28 – question no. 36 –
    Relates to financial position of Sandown Co.

    My question here – they inclued only 6 months of depreciation here ? why ? what abot the 1st oct 18-31st March 19 , those 6 months where why not included?

    November 7, 2021 at 9:32 am #640140
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6453
    • ☆☆☆☆☆

    Hi,

    The impairment took place on 1 April X9 which is six months into the year, hence the six months of depreciation.

    Thanks

    November 7, 2021 at 12:32 pm #640155
    Nikitagarwal
    Participant
    • Topics: 153
    • Replies: 146
    • ☆☆☆

    so what about the period prior to april ? no amortization/depreciation would be charged to it ?

    November 13, 2021 at 8:20 am #640525
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6453
    • ☆☆☆☆☆

    It would have been charged but the question asks for the carrying value at the reporting date. Remember that there has been an impairment, so the carrying value at the reporting date will be the impaired value less the depreciation charged since that date.

    Any depreciation charged prior to this is not relevant to calculating the carrying value at the reporting date.

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