AASB 1021

AASB 1021 is the Accounting Standard pertaining to "Depreciation".

In broad terms, the Standard covers two aspects:

1 Recognition of assets with physical substance and which are expected to be used during more than one financial year, which corresponds with a requirement in International Accounting Standard IAS 16 “Property, Plant and Equipment” to recognise property, plant and equipment.

2 Depreciation of all non-current assets with limited useful lives, which would include intangible assets.

Related Pages

External Links & References

  1. AASB 1021
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