With the enactment of Law 11,638, of December 28, 2007, which introduced many changes in the accounting part of Law 6,404/76, the entities must perform, periodically, an analysis of the recovery of the amounts recorded on property, plant and equipment in order to adjust the criteria used for the determination of the estimated useful life and for the calculation of depreciation. This provision is in paragraph 3 of article 183, of Law 6,404/76, which also addresses the review of intangible asset items.
The evaluation of property, plant and equipment assets of companies must be performed by a specialized consultancy, which must present a based report, with indication of the evaluation criteria and the comparative elements adopted and instructed with the documents related to the evaluated assets.
The determinations of the evaluation are provided by Technical Pronouncement CPC 27 – Property, plant and equipment assets in 2009, in which CPC addressed the depreciable amount and the depreciation period, thus establishing the concept of depreciable amount and the need to review the criteria used in the determination of the useful life of property, plant and equipment assets.
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