Accrued depreciation refers to the total amount of depreciation that has been recorded for an asset up to a specific point in time, reflecting the reduction in value due to wear and tear, obsolescence, or other factors.
Accumulated depreciation represents the total depreciation expense that has been recorded against a fixed asset since its acquisition or establishment on the balance sheet.
Aggregate depreciation refers to the total amount of depreciation expense that has been accumulated over time for a fixed asset or group of assets since the beginning of their use.
Amortized cost refers to the part of the value of an asset that has been written off due to accumulated depreciation over time. It is a key accounting concept used to allocate the cost of an asset over its useful life.
Backlog depreciation refers to the additional depreciation charge that occurs when an asset is revalued, causing an increase in accumulated depreciation.
A contra-asset account is used in accounting to accumulate amounts that reduce the value of a related asset account, such as accumulated depreciation being subtracted from the property, plant, and equipment asset account.
The traditional method of measuring fixed assets where they are valued at their historical cost less accumulated depreciation, with an alternative being the revaluation model.
Depreciation allowance refers to the total depreciation deducted against property used in a trade or business or held for the production of income, allowing for an annual deduction for wear and tear and diminution of the property's value. It is also known as accumulated depreciation.
A depreciation reserve, also known as accumulated depreciation, is the total depreciation charged against all productive assets as stated on the balance sheet. It allows for realistic reduction in the value of productive assets and facilitates tax-free recovery of the original investment in assets.
A Disposals Account is used in accounting to record the removal of a fixed asset from the ledger, capturing its original cost, accumulated depreciation, and the amount received upon disposal.
Reserve for Depreciation, also known as Accumulated Depreciation, is an accounting term used to describe the total amount of depreciation that has been expensed against an asset's value over time. It reflects the reduction in an asset’s book value due to wear and tear, age, or obsolescence.
The unrecovered cost represents the unexpired book value of an asset, typically calculated as the original cost less accumulated depreciation.
