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.
Sch. 8 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12)