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In example 3 (chapter 5) from the notes, the depreciation amount before the change in useful life was $2.5million and after the change in useful life it is $3.5million.
Will there be no adjustment for the increase in depreciation charge?
Changes in useful life are adjusted prospectively, i.e. for the current period and future periods. The new depreciation charge is therefore included in the 2015 financial statements.
Got it, thank you.