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Improvements to IFRS

Date recorded:


The Board discussed how an entity should handle an asset's depreciation at the point at which the asset's carrying amount is found to be below the amount of the asset's reassessed residual value. The Board decided that, when residual value exceeds net carrying amount for an asset (cost less depreciation) the entity should cease to depreciate the asset, on the basis that an asset should only be depreciated when there is a depreciable amount.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.