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once the ZBV value is 0, can we move the gain or loss account to the unplanned depreciation account.

in Assets 5 comments

Hi Team,

When the business decides to retire an asset earlier than its actual retirement date, they usually perform unplanned depreciation to adjust the amount before retiring the asset. This ensures that nothing is calculated in the gain or loss account. However, for a few assets, the business forgot to perform unplanned depreciation before retiring them. As a result, the system calculated the adjustment amount and recorded it under the gain or loss account.

The business is now requesting that we move those amounts to the unplanned depreciation account.

Can we proceed with this adjustment?

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