# The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Paragraph 24: Rules for depreciation and diminution in value


In the case of any fixed asset which has a limited useful economic life, the amount of—
(a) its cost, or
(b) where it is estimated that any such asset will have a residual value at the end of the period of its useful economic life, its cost less that estimated residual value,
must be reduced by provisions for depreciation calculated to write off that amount systematically over the period of the asset’s useful economic life.

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Source: https://www.legislation.gov.uk/ukdsi/2008/9780110806303/schedule/2/paragraph/24 (the official version)
Page: https://openlegislation.uk/draft-large-and-medium-sized-companies-and-groups-accounts-and-reports-regulations-2008/schedule-2/paragraph-24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.