First of all, thank you for this amazing resource. I am not being flippant when I say you deserve MBEs for its creation.
My question is about the "Illustration - Revaluation and annual excess depreciation transfers" on page 28. I just can't work out how the historic depreciation is 5 years... I would have calculated it as 21 years left (4 years historic) to depreciate when doing the 31/12/24 statements. If the buildings/land were bought on 1 Jan 2020 and revalued 1 Jan 2024. Am I missing something?
Thank you!
Ask the Tutor ACCA FR
FR Notes Depreciation page 28
Hi,
Thanks for the kind comments, just not too sure about King Charles's thoughts on MBEs for us all.
I think there is a slight error in the calculations. It should be 5 years based on the dates.
Good luck with the rest of the studies.
Thanks
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