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accumulated depreciation

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accumulated depreciation

Accumulated depreciation is the total amount of depreciation expense that has been recorded against a fixed asset over its useful life. It reduces the asset's book value on the balance sheet and is an important factor in calculating net asset value. Learn about how accumulated depreciation affects your financial statements, and why it’s essential for businesses to track depreciation for tax purposes and asset management.
By: 360 Accounting Pro
04-Feb-2025 10:36 am
Business & Services
User Website : https://www.360accountingpro.com/blog/understanding-accumulated-depreciation-type-of-account-explained

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