Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated
depreciation and imparement losses. Any tangible assets carried at revalued amounts are recorded at
faire value at the date of revaluation less any subsequent accumulated depreciation and subsequent
accumulated impairment losses.
An increase in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive
income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same
asset previously recognised in other comprehensive income to the extent of any previously recognised
revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds
the accumulated revaluation gains accumulated in equity in respect of that asset , the excess shall be
recognised in profit or loss.
Depreciation is provided on the following bases: