MLchartDataset catalogue

Depreciation

Term · Law · MLC-T-LAW-001578

The accounting method of allocating the cost of a tangible asset over its useful life. Businesses use depreciation to expense a portion of an asset's cost each year, reducing its book value on the balance sheet. For tax purposes, the Internal Revenue Service provides specific schedules and methods, such as straight-line or accelerated depreciation, to calculate deductible amounts.

Table 1. Record
IdentifierMLC-T-LAW-001578
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001578",
  "term": "Depreciation",
  "field": "Law",
  "definition": "The accounting method of allocating the cost of a tangible asset over its useful life. Businesses use depreciation to expense a portion of an asset's cost each year, reducing its book value on the balance sheet. For tax purposes, the Internal Revenue Service provides specific schedules and methods, such as straight-line or accelerated depreciation, to calculate deductible amounts.",
  "url": "https://mlchart.com/terminology/law/depreciation/"
}

Record 1,446 of 5,439 in Law terminology (MLC-0107). Request the full dataset.