Change of the method of fixed assets measurement in accordance with International Financial Reporting Standards and comparability of financial statements – a discussion paper
Journal Title: Zeszyty Teoretyczne Rachunkowości - Year 2011, Vol 2011, Issue 60
Abstract
This contribution demonstrates that a change of the method of depreciable fixed assets valuation (in accordance with IFRS) can impair comparability of financial statements prepared before and after the change of the valuation method. The problem with comparability is caused by a change in the method of calculating depreciation – it is calculated using current cost instead of historical cost. The solution of this problem is to introduce calculation of depreciation under historical cost to the revaluation model.
Authors and Affiliations
Adrian Ryba
Keywords
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