CERTYNEX IFRS ACADEMY

Grenvale revised the residual value of its aircraft, which reduces 2025 depreciation from 300,000 to 260,000. The note says: 'Change in estimate: depreciation of 260,000.' What is the error?

The change should have been presented as a change in accounting policy in the notes.

Revising a residual value requires no disclosure.

The note shows total depreciation instead of the amount of the change (40,000) and its future effect.

There is no error.