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Outside World- Accounting in Ireland

Day 1,920, 10:07 • Published in Ireland Ireland

• by Elite C

Anyone teaching or studying Accounting in Ireland, courses are about to change in relation to Depreciation.

Previously if a company sold a vehicle on 01/07/2012 that was bought on 01/01/2010 depreciation of 6 months, for this year, of the sold vehicles went into the Trading, Profit and Loss, but no longer.

It now goes into Balance Sheet under Capital and Reserves under the heading 'Lost Depreciation'. Changes will begin in Junior and Leaving Cert exams from 2014. In colleges as far as I know it takes immediate effect.

Absolute Rubbish!!!