Auditing - Definition of Depreciation | 12th Auditing : Chapter 7 : Depreciation
Chapter: 12th Auditing : Chapter 7 : Depreciation
Definition of Depreciation
Depreciation may be defined as a gradual deterioration in value due to use
Definition
R.G.Williams, “Depreciation may be defined as a gradual deterioration in
value due to use”.
Spicer and Pegler, “Depreciation may be defined as the measure of
exhaustion of the effective life of an asset from any cause during a given
period”.
The Institute of Chartered Accountants of India
defines it as, “depreciation is a measure of wearing out,
consumption or other loss of value of a depreciable asset arising from use,
effluxion of time or obsolescence through technology and market changes”.
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12th Auditing : Chapter 7 : Depreciation