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Revising periodic depreciation refers to the reassessment and adjustment of the depreciation expense allocated to an asset over its useful life. This can occur due to changes in the asset's estimated lifespan, residual value, or usage patterns. By revising depreciation, a company ensures that its financial statements accurately reflect the asset's current value and the associated expense, which can impact profitability and tax obligations. This process is essential for maintaining accurate financial reporting and compliance with accounting standards.
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The periodic transfer of the cost of an intangible asset to expense is referred to as?
depreciation
The method of determining depreciation that yields successive reductions in the periodic depreciation charge over the estimated life of the asset is?
straight-line
What is The term applied to the periodic transfer of a fixed asset's cost to expense is?
Depreciation
What is periodic cost?
Periodic cost is that cost which donot related with production of units and it must be incurred no matter production is done or not like depreciation.
What is book depreciation mean?
The depreciation rate for accounting may be different than that of taxation. The depreciation as per books of accounts may often be termed as book depreciation while that calculated under tax law is termed as tax depreciation.
The periodic transfer of the cost of an intangible asset to expense is referred to as?
depreciation
The method of determining depreciation that yields successive reductions in the periodic depreciation charge over the estimated life of the asset is?
straight-line
What is The term applied to the periodic transfer of a fixed asset's cost to expense is?
Depreciation
What is periodic cost?
Periodic cost is that cost which donot related with production of units and it must be incurred no matter production is done or not like depreciation.
What is book depreciation mean?
The depreciation rate for accounting may be different than that of taxation. The depreciation as per books of accounts may often be termed as book depreciation while that calculated under tax law is termed as tax depreciation.
What does 'amend' mean?
When it comes to documents, usually means adding/revising.
What does amender mean?
When it comes to documents, usually means adding/revising.
A change in the estimated useful life of equipment requires?
that the amount of periodic depreciation be changed in the current year and in future years.
What do you do in the last step of the writing process?
Getting feedback and revising againGetting feedback and revising again
Is revising making changes and improvements?
revising
What does residue value mean?
is it the value of what remains after depreciation from an asset
What does ACE mean on a depreciation report?
Adjusted Current Earnings
