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of <h1>Understanding Depreciation Under Ind AS 16: Key Factors, Methods, and Annual Reviews for Asset Management</h1> Depreciation under Ind AS 16 involves systematically allocating an asset's depreciable amount over its useful life. Significant parts of property, plant, and equipment are depreciated separately, potentially grouped if they share similar useful lives and methods. Depreciation is typically recognized in profit or loss unless it forms part of another asset's cost. Key factors in determining depreciation include historical cost, expected useful life, and residual value, which should be reviewed annually. Various methods like straight-line, diminishing balance, and units of production are used, reflecting the asset's consumption pattern. Management selects the most appropriate method, considering factors like prudence and materiality.
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