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Name: Depreciation
Acronym:
Type: Glossary Item


Definition:
A system of accounting used to allocate the cost of an asset (less residual value if any) over its estimated useful life. Depreciation recognizes the gradual exhaustion of the asset_s service capacity.




Resource:
  • Reference
    • Budget and Financial Management Division Department of Treasury and Finance, http://home.vicnet.net.au/~assetman/glossary/glossary.htm

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