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straight line depreciation

   Also found in: Legal, Financial, Wikipedia 0.01 sec.

straight line depreciation

Method of accounting for the depreciation of fixed assets. The amount to be set against income is calculated by taking the original cost of the asset, subtracting its residual value, and dividing the result by the number of years the asset is expected to last for. Thus the amount for depreciation is accounted for each year during the life of the asset.
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If FIFO inventory and straight line depreciation were used in one year and LIFO inventory and accelerated depreciation were used in the subsequent year, the financial statements would not be comparable unless the changes were properly disclosed.
What's it all about? by Schwartz, Marlyn A. / The National Public Accountant
 
 
 
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