Articles in the IAS 8 Category
IAS 8 »
IAS 8 provides for chnages in accounting policies. Do you know of any companies that have changed their accounting policy from Market to historical costs for PPE
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IAS 16, IAS 8 »
What could be evidence for justifying software life revision from 5 years to 3 years. So that prospective application of change.
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IAS 16, IAS 8 »
Dear Experts,
If useful life of computer software is revised from 5 years to 2 years, this would be a change in estimate as per IAS-8 and change will be prospectively.
However, in practical example
Cost $ 50000 as on 31-12-09
Accumulated Depreciation $ 30000 as on 31-12-09
NBV 20000 as on 31-12-09
If life is revised from 1-1-10 from 5 years to 3 years then
NBV 20000 would be amortized over 2 years from 1-1-10.
but what if some softwares have already finished their original life after 3 years, what would be effect.
HB
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