Which of the following disclosures is not required in the financial statements regarding depreciation?

A) Accumulated depreciation, either by major classes of depreciable assets or in total.

B) Details demonstrating how depreciation was calculated.

C) Depreciation expense for the period.

D) Balances of major classes of depreciable assets, by nature and function.

 Ans

B) Details demonstrating how depreciation was calculated.

As per US GAAP all relevant accounting information should be disclosed in the Financial Statements which may impact the financial statements of the company. The Depreciation amount, method of calculation, period of charge of depreciation, and major classes of depreciation and accumulated depreciation amount must be disclosed in the financial statements appropriately. But it is not required to include the details of demonstrating how depreciation was calculated as it is not much important in Financial statements. But they can keep it as separate from financial statements.