An asset that is subject to depreciation since its acquirement and over the course of its useful life. In this sense, a depreciation account is usually maintained for that asset and the depreciable amount should be allocated in a systematic manner to each accounting period over its useful life. By nature, depreciable assets have a time-bound useful life and are specifically held by an entity for manufacturing of products and goods or delivery of services, for rental to customers, or for own use as fixed assets.  These assets are also expected to be used for more than one accounting period.