Assets like equipment, vehicles and furniture lose value as they age. Parts wear out and pieces break, eventually requiring repair or replacement. Depreciation helps companies account for the ...

The goal of accounting is to produce fair and accurate statements about a company's financial performance and condition. An underlying principle of accounting is to connect the expenses that are ...

When your company purchases a fixed asset with an estimated lifetime exceeding one year, you cannot deduct the entire cost in the year of purchase. Rather, you must depreciate the asset by expensing a ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Andy Smith is a Certified Financial Planner (CFP®), ...

Learn how group depreciation simplifies asset management by pooling similar assets, its benefits, limitations, and why it's ...

In modern industry, where machinery often represents the largest share of capital investment, understanding the real economic ...

New amendments to two international accounting standards published Monday clarify acceptable methods of depreciation and amortization. To clarify appropriate methods, the International Accounting ...