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Useful Life

In the context of asset depreciation, it refers to the period over which an asset subject to depreciation (depreciable asset)...

Depreciation Basis

The amount assigned to an asset (asset account) that is subject to depreciation since its acquirement and over the course...

Basis for Depreciation

The amount assigned to an asset (asset account) that is subject to depreciation since its acquirement and over the course...

Depreciable Cost

The amount assigned to an asset (asset account) that is subject to depreciation since its acquirement and over the course...

Depreciable Amount

The amount assigned to an asset (asset account) that is subject to depreciation since its acquirement and over the course...

Third Dimensional Consistency

A state of consistency that exists between a specific firm and other firms in the same industry or sector. This...

Horizontal Consistency

A state of consistency that exists across financial statements of an entity across different accounting periods. This relates to application...

Vertical Consistency

A state of consistency that should exist across financial statements of an entity in a given period and at a...

Consistency Concept

An accounting concept that calls for establishing a level of conformity in all accounting treatment, methods, policies and procedures across...

Incidents

 Expenses that are incidental, i.e., minor. In connection with a service or an item, this refers to gratuities and other...