IAS 16

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2020 Updated list of International Accounting Standards (IAS)

The following are the list of updated international accounting standards (IAS) in 2020:

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Diminishing Balance Method of depreciation-Meaning

Diminishing balance method is method of depreciating non current asset which is also known as the, `reducing installment system’, or `written down value method’,. This method applies depreciation as a fixed percentage to the balance of the net cost of the asset not yet allocated at the end of the previous accounting period. The percentage of depreciation is so fixed … Read the rest