My notes have that S-X regulates form and content of financial statements filed with the SEC. S-K regulates the NONfinancial information filed–“disclosures”
Taking a stab at this–Component Depreciation is depreciating on an asset by asset level. Composite Depreciation is depreciating a group of assets together? If I'm right about that then I think the major advantage to component depreciation would be that the value of the assets could be determined separately and the accounting would be more accurate if an only one asset was sold as opposed to selling one asset that was part of a composite grouping. An advantage of composite depreciation would be that the accounting is less complex when you are depreciating a group, versus having to depreciate individually. How wrong am I?
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