Ireland Depreciation and ndexation- public sector accounts


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Ireland
Year end march 31 2016

a building with a gross value of £6,490,000 and useful economic life of 50 years has been depreciated for this year. The accumulated depreciation on the building is £1,180,000. However it should have been indexed upward by 7% prior to this.

Any thoughts on the debits and credits relating to this scenario ?

Any feedback will be greatly appreciated
 
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