Question

What is value in adopting the same method of depreciation year after year

Answer 1

'Consistency' is one of three Fundamental accounting assumptions (Going concern,consistency and accrual)

Accounting Standard(1) - Disclosure of accounting policies' main motto is to help the users of financial Statements for better understanding of information present in such Statements..If the fundamental accounting assumptions are followed then there is no necessity to disclose them whereas if they are not followed then they ahould be disclosed..

Method of depreciation is an accounting policy..an accounting policy cannot be changed unless required by a statute, accounting Standard,for better presentation...So in contention with the 'consistency'concept ,same method of depreciation is followed year after year