Depreciation

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What is depreciation?

Depreciation is the financial measure of how the value of an asset decreases over time

Depreciation is an expense that accounts for the estimated loss in value of an asset during a given period

It is an expense that does not involve spending money

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How is depreciation used?

It is used to spread the cost of the assets over their expected useful life

You need to know two methods to calculate depreciation

Straight line method

Reducing balance method

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