Accounting for Depreciation

Accounting for depreciation is that company has to mention any wear & tear in the asset during the whole year. Accounting for depreciation is necessary as depreciation occurs on all fixed assets which are in operation. Accounting for depreciation also shows that how much time that a specific asset is used by the company.

Definition, Explanation and Characteristics of “Depreciation” or “Accounting Depreciation

Definition, Explanation and Characteristics of “Depreciation” or “Accounting Depreciation”: Learning Objectives: Define and explain the terms “depreciation” or “accounting depreciation”. The value of assets gradually reduces on account of use. Such reduction in value is known as depreciation. Different authors have given different definitions
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