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WHAT IS DEPRECIATION?
Depreciation is the reduction of value to an asset. Most assets will depreciate, in other words lose value over time. Many things can cause an asset to depreciate. This includes wear and tear, the physical day to day damage that would be experienced from using the asset. Inefficiency and obsolescence where some equipment will become obsolete or outdated by more efficient equipment which reduces the usability of the original equipment. Other factors could include perishability, some assets such as inventory have an extremely short life span and once that has expired the asset is not worth anything. Usage rights, a fixed asset may actually be a right to use something such as software or a database for a certain period of time.

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