- noun the loss of value of an asset over time, which is recorded in accounts as an expense
Cars & Driving
- noun the loss of value due to age or deterioration
- The allocation of a part of the cost of a property, plant, or equipment item (that has a limited useful life) over its estimated useful life.
- noun loss of value of a currency when compared to other currencies
- noun the writing down of the capital value of an asset over a period of time in a company’s accounts. Various methods of depreciating assets are used, such as the straight line method, where the asset is depreciated at a constant percentage of its cost each year, and the reducing balance method, where the asset is depreciated at a constant percentage which is applied to the cost of the asset after each of the previous years’ depreciation has been deducted.