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Provider: Reuters Investment Profile
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Chongqing Iron & Steel announces change in accounting policy


Wednesday, 25 Jun 2014 08:00pm EDT 

Chongqing Iron & Steel Co Ltd:Says it has changed depreciation period of its fixed assets estimated expected operating life for properties to 30-50 years from 40 years, as well as for machinery equipment to 8-22 years from 8-20 years.Says it has also changed estimated residuals rate for machinery equipment, from 3 pct to 3 pct to 5 pct.Effective date of April 1.