https://www.taxtmi.com/acts?id=20028 Principles require systematic allocation of an asset's depreciable amount over its useful life, with key concepts defined for depreciable amount, residual value and useful life. Measurement must reflect the consumption pattern of economic benefits and may use methods such as straight line or units of production. Minimum depreciation must comply with applicable law or regulator prescriptions; revaluation impacts and impairment losses are excluded from cost assignment. Depreciation is assigned to cost objects by tracing or by cause and effect or benefits received apportionment and, if material, must be separately presented and disclosed in cost statements. en-us Fri, 11 Sep 2015 17:50:34 +0530 Fri, 05 Apr 2019 09:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20028 Principles require systematic allocation of an asset's depreciable amount over its useful life, with key concepts defined for depreciable amount, residual value and useful life. Measurement must reflect the consumption pattern of economic benefits and may use methods such as straight line or units of production. Minimum depreciation must comply with applicable law or regulator prescriptions; revaluation impacts and impairment losses are excluded from cost assignment. Depreciation is assigned to cost objects by tracing or by cause and effect or benefits received apportionment and, if material, must be separately presented and disclosed in cost statements. Act-Rules Companies Law Fri, 11 Sep 2015 17:50:34 +0530 https://www.taxtmi.com/acts?id=20028