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Former Member
Jun 06, 2011 at 06:53 AM

Fixed assets retirement posted according IFRS

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Dear All,

I have a question regarding fixed assets.

We need to achieve the below described retirement postings (i.e. the cummulated depreciaiton is posted as Dr in the capitalization value and Cr net book value instead od posting one amount) , which is apparently in line with the IFRS rules

Posting Key Account Amount

75 Asset cost 1000-

70 Cummulated depreciation 1000+

75 Cummulated depreciation -800

40 Net book value 800+

At the moment the retirement is posted in the following way

Posting Key Account Amount

75 Asset cost 1000-

70 Cummulated depreciation 200+

40 Net book value 800+

Could you please advise, how to set up the system?

Thank you in advance.