Question

Change in Method of Depreciation is regarded as change in Accounting Policy of the entity.​

Answer 1

The statement is True.

• As per Accounting Standard (AS) 21, a change in depreciation method affects the overall change in accounting policies.
• Divulgence of accounting policies, the adjustment in the technique for deterioration is an adjustment in the bookkeeping estimate.
• Thus, the strategy for devaluation can be changed without review impact or with review impact.