In accrual basis accounting, when your business purchases a long-lived asset, such as a vehicle, a building or a piece of equipment, you don't immediately write off the full cost as an expense. Rather ...

Depreciation guidelines enable accountants to understand the importance of depreciable assets in operating activities and depreciation methods as well as the regulatory relevance of bookkeeping and ...

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Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Eric's career includes extensive work ...

Peter Gratton, Ph.D., is a New Orleans-based editor and professor with over 20 years of experience in investing, risk management, and public policy. Peter began covering markets at Multex (Reuters) ...

Under the Modified Accelerated Cost Recovery System, the half-year depreciation convention generally applies to personal property. Under this convention, only a half-year of depreciation is allowed ...

The Jobs and Growth Tax Relief Reconciliation Act of 2003 allows a taxpayer to claim a bonus first-year depreciation allowance equal to 50 percent of the adjusted basis of qualified property. However, ...