Question

Depreciation accounting is as per

• A. IAS I
• B. IAS 16
• C. IAS III
• D. IAS IV

Answer 1

Answer:

B. IAS 16

The current standard for depreciation accounting is: IAS 16 – Property, Plant, and Equipment It deals with: Depreciable amount = Cost − Residual value Allocation of cost over the useful life of assets Methods like Straight-Line, Diminishing Balance, and Units of Production Summary: Depreciation accounting should follow IAS 16, not IAS IV.