Question
A machine costing ₹8,00,000 has a salvage value of
₹80,000 after 10 years. The company follows Straight Line Method (SLM). During the 4th year, it switches to Written Down Value (WDV) method for better matching of cost and benefit. What should be the correct accounting treatment?Solution
Change in depreciation method is treated as a change in accounting estimate and applied prospectively as per Ind AS 16.
In which year were the Women Transforming India Awards started by NITI Aayog?
Which institution organized the webinar titled 'Viksit Bharat: Corporate Governance for 2047' in March 2024?
What is the limitation on the total amount of depreciation for an asset?
The Ashokan inscriptions of Afghanistan are written in Aramaic and ________ scripts.
Which of the following five-year plan addressed the issue of removal of poverty as a chief objective for the first time?
Who heads the Inter-Ministerial Committee on Investment in Critical and Foreign Technologies (IMICF)?
Which country won the gold medal in the Commonwealth Games 2022 by defeating India in the women's cricket final?
Identify the incorrect initiative that was launched by the Government of India to reduce NPA?
In DBT, benefits or subsidies are directly transferred to the citizens, Direct Benefit Transfer facility is given in which of the following schemes?
...Which among the following is an agricultural festival of Arunachal Pradesh and celebrated by the Galo tribe?
