In accordance with IASB 16,the residual value and useful life of an asset shall be reviewed:

Question

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According to IASB 16, the residual value and useful life of an asset should be reviewed at least at the end of each annual reporting period. This is to ensure that the estimates used for depreciation are accurate and that any changes in the expected useful life or residual value of the asset are reflected in the financial statements. While the company directors may determine the frequency of such reviews, it is generally recommended that they are done at least annually. Therefore, option B is the best choice.

In Accordance with IASB 16,the Residual Value and Useful Life