The importance of depreciation and the purpose of it Free Essay

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The importance of depreciation and the purpose of it

Depreciation as a concept and in practice plays a very important role in a company’s cash flow hence in funding. Depreciation may be defined as the decline in the future economic benefits of a depreciable non-current asset through wear and tear and obsolescence. Depreciation is a way of self finance for an organization and is a way of decreasing taxes that the government claims as the company does not have to pay taxes on depreciation which consequently enlarges the cash flow of the company. A non-current asset is all assets other than current asset. It may be classified as long-term investment, property, plant and equipment, intangible asset and other assets. Property, plant and equipment are the only category of non-current asset that

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