Our machines are fully depreciated, but we still use them! Do mustafa forex work in the production company? And did you find out that some of your production assets are still in operation but they were fully depreciated?
In this case, the original estimate of machinery’s useful life proved to be incorrect. Dear Silvia, we are a manufacturing company. We use our existing machinery for a longer period than its useful life and therefore, our machinery is fully depreciated. What can we do to correct it?
The problem is that as these machines are used beyond their useful life, they are fully depreciated and their carrying amount is zero. It’s a full IFRS learning package with more than 40 hours of private video tutorials, more than 140 IFRS case studies solved in Excel, more than 180 pages of handouts and many bonuses included. If you take action today and subscribe to the IFRS Kit, you’ll get it at discount! Click here to check it out! But in this case, what depreciation expense can you recognize in the profit or loss? So in fact, you use the machines, but you can’t really recognize any depreciation expense, because there’s nothing left.