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If deprection is not charged What is effect on financial statement?
Wiki User
∙ 14y ago
If depreciation is not charged profit and the balance sheet total will be higher. In the UK, Financial Reporting Standard (FRS) 15 states that depreciation must be charged on all fixed assets. The only exeption is where an asset is held as an investment property and fair value adjustments are made.
Wiki User
∙ 14y ago
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