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Depreciation is the decline in the future economic benefits of a depreciable non-current asset through wear and tear and obsolescence. It is an allocation process. It can be calculated by two main methods, each reflecting in a distinct prospect in the way the as ....

Middle of Essay
.... up or expired. Examples of depreciable assets include machinery and motor vehicles. Generally, most non-current assets, with the exception of land, decline in their potential to provide future economic benefit. There are three factors that contribute to this decline. They are, the deterioration of a non-current asset due to the use of it, technical obsolescence, whereby certain assets become out of date due to technical innovations and improvements on a comparative basis and the final, commercial obsolescence which is the process of certain non-current assets becoming redundant as the demands fall for the goods or service previously provided by ....