The gaap concept that requires assets be depreciated over their useful lives instead of just expensing them when acquired is called?

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19-08-2022
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The gaap concept that requires assets be depreciated over their useful lives instead of just expensing them when acquired is called?

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rafikiedu08 rafikiedu08 · Answer 1 · 2022-08-24T11:36:22+02:00

The gaap concept that requires assets be depreciated over their useful lives instead of just expensing them when acquired is called Straight line method.

What is straight line method?

Since of its basic, straightforward calculation, straight line is the foremost common GAAP strategy utilized to deteriorate a company's resources.
A company applies this strategy by basically separating the asset's depreciable base by its evaluated valuable life.
Utilizing the case in segment one, the yearly deterioration will be calculated as the depreciable base of $12,000 isolated by five a long time, or $2,400 each year the resource is in benefit.
According to the Straight line method, the cost of the asset is written off equally during its useful life.
Therefore, an equal amount of depreciation is charged every year throughout the useful life of an asset.

To know more about Straight line method visit:

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