The cost of deriving economic benefit from a tangible fixed asset consumed during an accounting period. Includes any reduction in the useful economic life of a tangible fixed asset, such as wear and tear. Useful economic life refers to the period during which the present owner of the asset with derive economic benefits.
Articles in this section
- What is a LEI number?
- On a balance sheet: what is Cash?
- What is stock (Capital or Equity)?
- What are Other Short Term Finances?
- What is overdraft in a balance sheet?
- What are Trade Debtors?
- What are Current Assets?
- What are Fixed Assets?
- What are Intangible Assets?
- What are Tangible Assets?