SCHEDULES

F1F1 SCHEDULE 8

Annotations:
Amendments (Textual)

PART II ACCOUNTING PRINCIPLES AND RULES

Section B Historical Cost Accounting Rules

Fixed assets

F218

In the case of any fixed asset which has a limited useful economic life, the amount of—

a

its purchase price or production cost; or

b

where it is estimated that any such asset will have a residual value at the end of the period of its useful economic life, its purchase price or production cost less that estimated residual value;

shall be reduced by provisions for depreciation calculated to write off that amount systematically over the period of the asset’s useful economic life.