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Depreciation for Revaluated Non- current asset

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Depreciation for Revaluated Non- current asset

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by P2-D2.
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  • Author
    Posts
  • September 9, 2021 at 2:59 pm #635129
    nttn91
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    Follow your lectures, i understand that when the asset is revaluated, the depreciation for the past year will not be recalculated, and the revaluation surplus is the exceed of revaluated value and carrying value (initial cost – accumulated depreciation), the new annual depreciation will be calculated by getting current cost divided by remaining useful life (not whole useful life)

    However, follow Activity 3 of BPP Learning Material (Chapter 3- page 44&45), the answer for question 2 & 4 & 5 show that carrying amount of PPE at 30 Sep 20X8 was recalculated by getting current cost minus re-calculated depreciation which is based on current cost and whole useful life. It also means the annual depreciation will be calculated by getting current cost divided by whole useful life.

    Can you help to explain why it was calculated in 2 different ways?

    September 17, 2021 at 7:54 pm #635915
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6453
    • ☆☆☆☆☆

    Hi,

    This is just an alternative way of looking at the calculating the carrying value following the revaluation, which should give the same answers. You can choose which way to do the calculation but I prefer the way used in our class notes and videos.

    Thanks

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