UK Accounting Glossary
The systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount is cost less residual value.
They wrote off over £600 due to depreciation of the machinery.
It’s important to account for depreciation when calculating the costs.
Depreciation accounting is a technique used to allocate the cost of a capital asset over its expected useful life.
There’s special rules concerning the depreciation of real estate.
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This glossary post was last updated: 23rd December 2018.