Depreciation in a phenomenon where the value of your fixed assets keeps decreasing over time due to their usage. Depreciation is considered as an expense in the balance sheet and can be found under the column of accumulated depreciation. Its value increases every year as the life of the asset decreases and it is subtracted from the actual value to the asset to obtain taxable value of the asset. So, if the depreciation increases, the taxable value of fixed assets decrease as per law.
Note: Depreciation can be calculated by different methods as per the type of asset.
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