Logo
Unionpedia
Communication
Get it on Google Play
New! Download Unionpedia on your Android™ device!
Free
Faster access than browser!
 

Depreciation

Index Depreciation

In accountancy, depreciation refers to two aspects of the same concept. [1]

31 relations: Accounting, American Taxpayer Relief Act of 2012, Amortization, Applicable convention, Asset, Canada, Capital allowance, Capital Cost Allowance, Consumption of fixed capital, Cost of goods sold, Cost segregation study, Debits and credits, Deferred financing cost, Deferred tax, Depletion (accounting), Depreciation recapture (United States), Expense, Fair value, Impaired asset, Income statement, Internal Revenue Service, International Financial Reporting Standards, John I. Beggs, Life expectancy, MACRS, Matching principle, Purchase price allocation, Residual value, Revaluation of fixed assets, Tax deduction, United Kingdom.

Accounting

Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations.

New!!: Depreciation and Accounting · See more »

American Taxpayer Relief Act of 2012

The American Taxpayer Relief Act of 2012 was passed by the United States Congress on January 1, 2013, and was signed into law by US President Barack Obama the next day.

New!!: Depreciation and American Taxpayer Relief Act of 2012 · See more »

Amortization

Amortization (or amortisation) is paying off an amount owed over time by making planned, incremental payments of principal and interest.

New!!: Depreciation and Amortization · See more »

Applicable convention

An applicable convention, as presented in of the United States Internal Revenue Code, is an assumption about when property is placed into service.

New!!: Depreciation and Applicable convention · See more »

Asset

In financial accounting, an asset is an economic resource.

New!!: Depreciation and Asset · See more »

Canada

Canada is a country located in the northern part of North America.

New!!: Depreciation and Canada · See more »

Capital allowance

Capital allowances is the practice of allowing a company to get tax relief on tangible capital expenditure by allowing it to be expensed against its annual pre-tax income.

New!!: Depreciation and Capital allowance · See more »

Capital Cost Allowance

Capital Cost Allowance (CCA) is the means by which Canadian businesses may claim depreciation expense for calculating taxable income under the Income Tax Act (Canada).

New!!: Depreciation and Capital Cost Allowance · See more »

Consumption of fixed capital

Consumption of fixed capital (CFC) is a term used in business accounts, tax assessments and national accounts for depreciation of fixed assets.

New!!: Depreciation and Consumption of fixed capital · See more »

Cost of goods sold

Cost of goods sold (COGS) refers to the carrying value of goods sold during a particular period.

New!!: Depreciation and Cost of goods sold · See more »

Cost segregation study

Under United States tax laws and accounting rules, cost segregation is the process of identifying personal property assets that are grouped with real property assets, and separating out personal assets for tax reporting purposes.

New!!: Depreciation and Cost segregation study · See more »

Debits and credits

In double entry bookkeeping, debits and credits (abbreviated Dr and Cr, respectively) are entries made in account ledgers to record changes in value resulting from business transactions.

New!!: Depreciation and Debits and credits · See more »

Deferred financing cost

Deferred financing costs or debt issuance costs is an accounting concept meaning costs associated with issuing debt (loans and bonds), such as various fees and commissions paid to investment banks, law firms, auditors, regulators, and so on.

New!!: Depreciation and Deferred financing cost · See more »

Deferred tax

A notional asset or liability to reflect corporate income taxation on a basis that is the same or more similar to recognition of profits than the taxation treatment.

New!!: Depreciation and Deferred tax · See more »

Depletion (accounting)

Depletion is an accounting and tax concept used most often in mining, timber, petroleum, or other similar industries.

New!!: Depreciation and Depletion (accounting) · See more »

Depreciation recapture (United States)

Depreciation recapture is the USA Internal Revenue Service (IRS) procedure for collecting income tax on a gain realized by a taxpayer when the taxpayer disposes of an asset that had previously provided an offset to ordinary income for the taxpayer through depreciation.

New!!: Depreciation and Depreciation recapture (United States) · See more »

Expense

In common usage, an expense or expenditure is an outflow of money to another person or group to pay for an item or service, or for a category of costs.

New!!: Depreciation and Expense · See more »

Fair value

In accounting and in most Schools of economic thought, fair value is a rational and unbiased estimate of the potential market price of a good, service, or asset.

New!!: Depreciation and Fair value · See more »

Impaired asset

According to U.S. accounting rules (US GAAP), the value of an asset is impaired when the sum of estimated future cash flow from that asset is less than the book value of the asset.

New!!: Depreciation and Impaired asset · See more »

Income statement

An income statement or profit and loss accountProfessional English in Use - Finance, Cambridge University Press, p. 10 (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, operating statement, or statement of operations) is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period.

New!!: Depreciation and Income statement · See more »

Internal Revenue Service

The Internal Revenue Service (IRS) is the revenue service of the United States federal government.

New!!: Depreciation and Internal Revenue Service · See more »

International Financial Reporting Standards

International Financial Reporting Standards, usually called IFRS, are standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB) to provide a common global language for business affairs so that company accounts are understandable and comparable across international boundaries.

New!!: Depreciation and International Financial Reporting Standards · See more »

John I. Beggs

John Irvin Beggs (September 17, 1847 – October 17, 1925) was an American businessman.

New!!: Depreciation and John I. Beggs · See more »

Life expectancy

Life expectancy is a statistical measure of the average time an organism is expected to live, based on the year of its birth, its current age and other demographic factors including gender.

New!!: Depreciation and Life expectancy · See more »

MACRS

The Modified Accelerated Cost Recovery System (MACRS) is the current tax depreciation system in the United States.

New!!: Depreciation and MACRS · See more »

Matching principle

In accrual accounting, the matching principle states that expenses should be recorded during the period in which they are incurred, regardless of when the transfer of cash occurs.

New!!: Depreciation and Matching principle · See more »

Purchase price allocation

Purchase price allocation (PPA) is an application of goodwill accounting whereby one company (the acquirer), when purchasing a second company (the target), allocates the purchase price into various assets and liabilities acquired from the transaction.

New!!: Depreciation and Purchase price allocation · See more »

Residual value

Residual value is one of the constituents of a leasing calculus or operation.

New!!: Depreciation and Residual value · See more »

Revaluation of fixed assets

In finance, a revaluation of fixed assets is an action that may be required to accurately describe the true value of the capital goods a business owns.

New!!: Depreciation and Revaluation of fixed assets · See more »

Tax deduction

Tax deduction is a reduction of income that is able to be taxed and is commonly a result of expenses, particularly those incurred to produce additional income.

New!!: Depreciation and Tax deduction · See more »

United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

New!!: Depreciation and United Kingdom · See more »

Redirects here:

Accumulated Depreciation, Accumulated depreciation, Capital Consumption, Capital consumption, Depreciate, Depreciated, Depreciating asset, Depreciation reserve, Economic depreciation, Physical depreciation, Salvage Value, Straight-line depreciation, Sum-of-years' digits, Sum-of-years' digits depreciation, Terminal value (accounting).

References

[1] https://en.wikipedia.org/wiki/Depreciation

OutgoingIncoming
Hey! We are on Facebook now! »