Which asset is not normally depreciated according to accounting standards? Freehold land or computers?

Hi gregzee1

Generally land doesn't depreciate.

Computers depreciate. Depending on what accounting standard you have to / decide to follow - Could be over 3 years. Could be 40% of the balance each year. Or if less than a certain amount, could be fully expensed in first year.

Land may need to be revalued, usually upwards, every now and then, again, depending on the accounting standards adopted.
Also, if you are buying land with the intention of selling it for a profit in the short term, you could be viewed as 'trading' land, in which case it becomes inventory and is again, treated differently.

Your intention and the accounting policies adopted determine the accounting treatment required.