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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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