SSAP 12 (revised) accounting for depreciation

Article Abstract:

Depreciation of fixed assets and amounts capitalized in finance leases are considered in a proposed statement of standard accounting practice. The concepts of depreciation, useful economic life, residual value, and recoverable amounts are defined. The scope of this statement does not include investment properties, goodwill, or development costs. Topics covered include the accounting treatment of depreciable fixed assets, and the disclosure rules for depreciable assets. British legal requirements and those of the Republic of Ireland are discussed.

---

Statement on the publication of SSAP 12 (revised) accounting for depreciation

Article Abstract:

Exposure Draft (ED) 37, 'Accounting for Depreciation' was released by the Accounting Standards Committee in Mar 1985. A summary of comments on ED 37 by 89 individuals and organizations is presented. The majority of the commentators felt that ED 37 was an acceptable revision of Statement of Standard Accounting Practice number 12. The main issues raised in the commentaries were the definition of depreciation, revaluation, non-depreciation of certain assets, revision of asset lives, and depreciations charged prior to a revaluation.

Institute of Chartered Accountants in England and Wales

---

A better appreciation of depreciation

Article Abstract:

The revised version of Statement of Standard Accounting Practice number 12, Accounting for Depreciation, helps to clarify problems with accounting standards regarding depreciation. Three aspects of revised standards are discussed: depreciation of revalued assets, the depreciation of buildings, and the revisions to asset lives. The new standard states that the purpose of depreciation is to allocate costs against revenues.

• 
• 
• 
• 
• 
• 
• 
• 
• 
• 

Similar abstracts:

• Abstracts: A note on transaction costs and the interpretation of dividend drop-off ratios
• Abstracts: Rotary pipe gives acquisitive Nortekenergy field play. Aegis' fundamentals, chart action stirs insider buys. Success of portable drill rig stirs market interest in CCI
• Abstracts: The post-merger performance of acquiring firms: a re-examination of an anomaly. Managerial incentives and corporate investment and financing decisions
• Abstracts: Evaluating overseas projects. Does FX exposure matter? Financing overseas subsidiaries
• Abstracts: C-NIX for the sophisticated. Plusmark under Xenix links your inventory to the ledgers. Double entry for the sole practitioner

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.