Labels:text | screenshot | font | document | letter OCR: Tangible fixed assets and depreciation Tangible fixed assets, except for equipment rented by customers and freehold land, are stated at historical cost less depreciation. The cost of self-constructed fixed assets includes all direct expenditure. Financing costs are not capitalised. Freehold land is not depreciated. Equipment rented by customers is reflected at a depreciated replacement value. All other fixed assets are depreciated from the date of commissioning on a straight-line basis over their expected useful lives. Electromechanical telephone exchange equipment is in the course of being replaced by digital equipment and will be substantially written off by the year 2000. Intangible fixed assets are stated at historical cost less depreciation.
(.png)
