ias 16

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February 14, 2018 at 4:09 am #437007
colmeay
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Well done Tutor.Kindly explain how major overhaul and inspection cost should be accounted for under IAS 16
February 17, 2018 at 8:05 am #437708
P2-D2
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Hi,

Thanks for the kind words coming all the way from Nigeria.

The cost of a major overhaul and inspection is capitalised initially and then depreciated. The way in which it is capitalised is that the cost to overhaul is separated out from the rest of the initial cost and depreciated separately.

Thanks
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