Skip to Content
avatar image
Former Member

How To Stop planned depriciation Calculation for some period?

Hello Friend my client want to stop the planed Depreciation calculation on asset for 1 month( Oct 2016), because it is going for service purpose, So my client want to stop calculation depreciation only this particular Asset only for one month (Oct 2016 ). How to can i do this please this is urgent.

Thanks in advance

Kartick

Add comment
10|10000 characters needed characters exceeded

  • Get RSS Feed

2 Answers

  • Oct 26, 2017 at 07:13 PM
    Add comment
    10|10000 characters needed characters exceeded

  • Oct 27, 2017 at 04:35 AM

    Dear,

    For your Information, There is no need to stop the depreciation, as per IAS 16.

    Please see the link below, in which it is mentioned "Depreciation begins when the asset is available for use and continues until the asset is derecognised, even if it is idle. [IAS 16.55]".

    https://www.iasplus.com/en/standards/ias/ias16.

    Discuss this with your client, if requirement still pertains. then follow the above mentioned answer by Tammy Powlas. i.e. maintain the check of asset shut down in Asset Master record.

    Br,

    Add comment
    10|10000 characters needed characters exceeded