In respect to accounting for depreciation,IFRS uses a "components" approach for assets such as buildings,aircraft,and manufactured equipment.

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Quizplus · Accepted Answer

IFRS does indeed use a "components" approach for assets such as buildings, aircraft, and manufactured equipment when accounting for depreciation. This means that different parts or components of the asset are depreciated separately based on their individual useful lives and residual values.

In Respect to Accounting for Depreciation,IFRS Uses a "Components" Approach