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Depreciation – Freehold & Leasehold (non exam related)

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Depreciation – Freehold & Leasehold (non exam related)

  • This topic has 0 replies, 1 voice, and was last updated 15 years ago by swgiant.
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  • April 28, 2010 at 2:37 pm #43640
    swgiant
    Member
    • Topics: 7
    • Replies: 29
    • ☆

    I am a part time student, and i face some question during my daily working. It is regarding the depreciation for freehold land/building and leasehold land/building.
    My colleague said that IAS 16 PPE does mention for that, but i read nothing. So, please guide.

    How do we treat the depreciation (rate) for:

    i) Freehold Land = no depreciation, as infinite useful life. if not, why?
    ii) Freehold Building = Got this kind of building? Since building is getting older and older, then how to counter the depreciation?
    iii) Leasehold land = Apportion based on the leasing period given.
    iv) Leasehold building = 2% per annum applied. if the leasing period is less than 50 years, then apportion based on the leasing period left?

    Please correct me… thanks.

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