{"id":96392,"date":"2022-05-24T13:14:34","date_gmt":"2022-05-24T07:44:34","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=96392"},"modified":"2022-05-31T14:54:03","modified_gmt":"2022-05-31T09:24:03","slug":"depreciation-and-its-accounting","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/","title":{"rendered":"Depreciation and Its Accounting for JAIIB"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#Download_Depreciation_And_Its_Accounting_Free_E-book\" >Download Depreciation And Its Accounting Free E-book<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#Introduction\" >Introduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#Meaning_of_Depreciation\" >Meaning of Depreciation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#Take_a_peek_at_the_Depreciation_and_Its_Accounting_Free_E-book\" >Take a peek at the Depreciation and Its Accounting Free&nbsp;E-book<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#FAQs\" >FAQs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#JAIIB_Study_Material_Compilation\" >JAIIB Study Material Compilation<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>Expenditure on commercial assets such as furniture, fixtures and fittings, motor vehicles, machinery, and equipment are neither goods nor costs of a year. These types of expenditures provide services to the firm for many years and are hence referred to as fixed assets. It would be incorrect to subtract the expenditure on fixed assets from the earnings of any one year since the company has benefited from them for more than a year. The right thing to do is to spread their expense throughout the years of the business&#8217;s useful life. <strong>Depreciation<\/strong> is the part of the cost of fixed assets charged as an expense each year. This article will teach you about the meaning and techniques of charging depreciation and how depreciation is documented in the books of accounts. <strong>Depreciation<\/strong> is the part of the cost of fixed assets charged as an expense each year. In this blog you will learn about Depreciation and Its Accounting, which is one of the important topic for JAIIB Exam! There are two JAIIB exams each year.\u00a0<\/p>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/jaiib\/?ref=cont-soum\" target=\"_blank\" rel=\"noreferrer noopener\">Attempt a free JAIIB Mock Test<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Download_Depreciation_And_Its_Accounting_Free_E-book\"><\/span>Download <strong>Depreciation And Its Accounting<\/strong> Free E-book<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-soum&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/depreciation-its-accounting\" target=\"_blank\" rel=\"noreferrer noopener\">Download Depreciation and its accounting free ebook<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">How to Download&nbsp;<strong><strong>Depreciation And Its Accounting<\/strong> <\/strong>E-book for JAIIB?<\/h3>\n\n\n\n<p>Step 1: Click on the&nbsp;<strong><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-soum&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/depreciation-its-accounting\" target=\"_blank\" rel=\"noreferrer noopener\">download<\/a>&nbsp;<\/strong>link. You will be redirected to Oliveboard\u2019s FREE E-Books Page.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1203\" height=\"548\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/03\/ebook-login-screen.png\" alt=\"\" class=\"wp-image-92928\"\/><\/figure>\n\n\n\n<p>Step 2: Create a free Oliveboard account or login using your existing Oliveboard account details<\/p>\n\n\n\n<p>Step 3: Download the book by clicking on the link presented on the page.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction\"><\/span>Introduction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Expenditure on commercial assets such as furniture, fixtures and fittings, motor vehicles, machinery, and equipment are neither goods nor costs of a year. These types of expenditures provide services to the firm for many years and are hence referred to as fixed assets. It would be incorrect to subtract the expenditure on fixed assets from the earnings of any one year since the company has benefited from them for more than a year. The right thing to do is to spread their expense throughout the years of the business&#8217;s useful life. <strong>Depreciation<\/strong> is the part of the cost of fixed assets charged as an expense each year. This article will teach you about the meaning and techniques of charging depreciation and how depreciation is documented in the books of accounts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Meaning_of_Depreciation\"><\/span><strong>Meaning of Depreciation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>We are already familiar with the definitions of assets and liabilities. Current assets (cash, debtors or customer balances, stock of materials and items) and fixed assets are the two basic kinds of assets (buildings, machinery and plant, furniture and fixtures, motor vehicles). Fixed assets are also known as long-term assets since they help the firm for longer than a year. Most fixed assets lose value over time as they are used and as the years pass. For example, fixed assets lose their utility when new technology and styles shift. These are then often needed to be replaced once their useful life has expired.<\/p>\n\n\n\n<p>As a result, the expense of a fixed asset is spread out over its useful life. The cost allocation for each year is charged as depreciation expense for that year. For example, a \u20b92,500 office chair is purchased with the expectation that it would be scrapped after ten years. The chair&#8217;s usable life is ten years, during which time the \u20b92,500 will be dispersed. The allocation for each year may be computed as follows:<\/p>\n\n\n\n<p>Depreciation = Cost of Assets minus Scrap Value (if any) \/Life of Assets Depreciation= \u20b92500\/ 10 = \u20b9250<\/p>\n\n\n\n<p>Thus, \u20b9250 is the annual depreciation expense.<\/p>\n\n\n\n<p>Thus, depreciation is an annual expenditure paid for the decrease in the value of fixed assets caused by:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>normal wear and tear from usage and the passing of time&nbsp;<\/li><li>obsolescence owing to changes in technology, fashion, taste, and other market circumstances<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Causes of Depreciation<\/strong><\/h3>\n\n\n\n<p>The following are the reasons for depreciation in accounting:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Normal wear and tear<\/strong><\/h4>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Due to usage:<\/strong> Every asset has a life that it can run, generate, or provide service for. As a result, as we utilise the asset, its value drops. As an example, the running and using of a bicycle reduce its efficiency and functionality.<\/li><li><strong>Time:<\/strong> As time passes, natural forces such as wind, sun, and rain create physical degradation in the value of an object. As an example, the value of a piece of furniture decreases with time, even when it is not utilised.<\/li><\/ol>\n\n\n\n<h4 class=\"wp-block-heading\">&nbsp;<strong>Obsolescence<\/strong><\/h4>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Due to the development of improved or superior equipment:<\/strong> Because of the introduction of new or superior equipment, fixed assets are sometimes necessary to be removed before they are truly worn out due to either of the aforementioned causes. The arrival of improved equipment, machinery, and so on allows for the manufacture of things at a reduced cost. This renders older equipment obsolete, as the manufacture of items using them will be more expensive and less competitive. Steam engines, for example, became outdated with the introduction of diesel and electric locomotives.&nbsp;<\/li><li><strong>Due to change in fashion, style, taste or market conditions: <\/strong>Obsolescence may also occur as a consequence of a reduction in demand for specific goods and services as a result of a change in trend, style, taste, or market conditions. Goods and services that are no longer in demand reduce the value of the assets used to produce them, such as factories or equipment used to make vintage hats, shoes, and furniture. The loss in the value of fixed assets due to such factors is known as obsolescence, and it is also accounted for as depreciation.<\/li><\/ol>\n\n\n\n<p><strong><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-soum&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/depreciation-its-accounting\" target=\"_blank\" rel=\"noreferrer noopener\">Read More Here<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Take_a_peek_at_the_Depreciation_and_Its_Accounting_Free_E-book\"><\/span><strong>Take a peek at the Depreciation and Its Accounting Free&nbsp;E-book<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"573\" height=\"796\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/05\/deprecia.png\" alt=\"\" class=\"wp-image-96401\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Depreciation is an important aspect of accounting records because it helps organizations keep their income statement and balance sheet accurate by recording the correct earnings. Using competent corporate accounting software can assist you in accurately recording depreciation without making human errors.<\/p>\n\n\n\n<p>This was all about&nbsp;Depreciation and Its Accounting&nbsp;for JAIIB. Our goal is to provide candidates with information that will help them prepare for the JAIIB exam. Keep following Oliveboard for more updates. To stay updated, follow Oliveboard on&nbsp;<a href=\"https:\/\/bit.ly\/OB-FB-JAIIB-CAIIB\" target=\"_blank\" rel=\"noreferrer noopener\">Facebook<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/bit.ly\/OB-TG-JAIIB-CAIIB\" target=\"_blank\" rel=\"noreferrer noopener\">Telegram<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1653377948043\"><strong class=\"schema-faq-question\">Q. Why is the unit of production method of depreciation not used by all businesses?<\/strong> <p class=\"schema-faq-answer\">A. To compute depreciation, this technique merely takes into account utilisation. However, various factors reduce the value of assets over time. This procedure may result in two distinct values for the same asset (depreciation and book value). This, in turn, may cause misunderstanding. Because it disregards the passage of time, this technique may fail to provide a correct depreciation value. This strategy does not apply to all enterprises, such as trade firms, the service sector, and so on. This form of depreciation is only available to manufacturers.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1653377973403\"><strong class=\"schema-faq-question\">Q. What are the causes of depreciation?<\/strong> <p class=\"schema-faq-answer\">A. The following are the reasons for depreciation in accounting:<br\/>    i) Normal wear and tear:<br\/>        Due to usage<br\/>        Time<br\/>   \u00a0ii) Obsolescence:<br\/>        Due to the development of improved or superior equipment<br\/>        Due to changes in fashion, style, taste or market conditions<\/p> <\/div> <\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"JAIIB_Study_Material_Compilation\"><\/span>JAIIB Study Material Compilation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-regular\"><table><tbody><tr><td>Principles And Practices Of Banking&nbsp;<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/principles-and-practices-of-banking\/\">Principles And Practices Of Banking | Study Notes For JAIIB (oliveboard.in)<\/a><\/td><\/tr><tr><td>Reserve Bank of India<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/banking-awareness-notes-reserve-bank-of-india-rbi\/\">Reserve Bank of India: Organisation &amp; Functions \u2013 Oliveboard<\/a><\/td><\/tr><tr><td>Types Of Shares And Their Issue<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/types-of-shares-and-their-issue\/\">Types Of Shares And Their Issue- Types, Classification, Bonus Shares (oliveboard.in)<\/a><\/td><\/tr><tr><td>Understanding The Balance Sheet And Its Format<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/understanding-the-balance-sheet-and-its-format\/\">Understanding The Balance Sheets And It\u2019s Format (oliveboard.in)<\/a><\/td><\/tr><tr><td>Accounting And Finance For Bankers<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/accounting-and-finance-for-bankers\/\">Accounting And Finance For Bankers | Study Notes For JAIIB (oliveboard.in)<\/a><\/td><\/tr><tr><td>Assets &amp; Liabilities&nbsp;<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/assets-liabilities\/\">Assets &amp; Liabilities \u2013 Meaning, Legal Requirements and more (oliveboard.in)<\/a><\/td><\/tr><tr><td>Public Sector Banks And Cooperative Banks<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/public-sector-banks-and-cooperative-banks\/\">Public Sector Banks And Cooperative Banks | JAIIB Study Notes (oliveboard.in)<\/a><\/td><\/tr><tr><td>Calculation of Interest and Annuities<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-interest-and-annuities\/\">Calculation of Interest and Annuities-Business Mathematics For JAIIB (oliveboard.in)<\/a><\/td><\/tr><tr><td>Calculation of YTM<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/calculation-of-ytm\/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=calculation-of-ytm\">Calculation of YTM(Yield to Maturity)-Basics of Business Mathematics (oliveboard.in)<\/a><\/td><\/tr><tr><td>Consumer Protection Act<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/consumer-protection-act\/\">Consumer Protection Act COPRA- Free Pdf Notes for JAIIB 2022 (oliveboard.in)<\/a><\/td><\/tr><tr><td>Risk and Basic Risk Management Framework<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/risk-and-basic-risk-management-framework-jaiib\/\">Risk and Basic Risk Management Framework JAIIB | Oliveboard<\/a><\/td><\/tr><tr><td>Risks in Banking Business<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/risks-in-banking-business\/\">Risk in Banking Business<\/a><\/td><\/tr><tr><td>Functions of Bank<\/td><td><a href=\"https:\/\/www.oliveboard.in\/blog\/functions-of-bank\/\">Functions of Bank \u2013 Short Notes for JAIIB Exam | Oliveboard<\/a><\/td><\/tr><tr><td>Payments and Collecting Cheques<\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-sou&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/Payment-collection-of-cheques-JAIIB\" target=\"_blank\" rel=\"noreferrer noopener\">Payment and Collection of Cheques and Other Negotiable Instruments for JAIIB I Oliveboard<\/a><\/td><\/tr><tr><td>Data Communication Network<\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-sou&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/data-communication-EFT-JAIIB\" target=\"_blank\" rel=\"noreferrer noopener\">Data Communication Network and EFT Systems for JAIIB I Oliveboard<\/a><\/td><\/tr><tr><td>Technology Upgradation and it\u2019s impact<\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-sou&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/technology-upgradation-its-impacts\" target=\"_blank\" rel=\"noreferrer noopener\">Role of Technology Upgradation and its impact on Banks JAIIB I Oliveboard<\/a><\/td><\/tr><tr><td>Security Considerations: IT Security &amp; IT Audit<\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-sou&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/security-considerations-jaiib\" target=\"_blank\" rel=\"noreferrer noopener\">Security Considerations: IT Security &amp; IT Audit for JAIIB I Oliveboard<\/a><\/td><\/tr><tr><td>Capital Budgeting<\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-sou&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/capital-budgeting-jaiib\" target=\"_blank\" rel=\"noreferrer noopener\">Capital Budgeting: Features, Methods and Process for JAIIB I Oliveboard<\/a><\/td><\/tr><tr><td>Depreciation and Its Accounting <\/td><td><a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=cont-soum&amp;cat=jaiib&amp;next=https:\/\/bit.ly\/depreciation-its-accounting\" target=\"_blank\" rel=\"noreferrer noopener\">Depreciation and Its Accounting for JAIIB June 2022 I Oliveboard<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Also Read:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><a href=\"https:\/\/www.oliveboard.in\/blog\/important-tips-to-crack-jaiib-exams\/\">5-Important Tips To Crack JAIIB Exams| Check Here (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-frequently-asked-questions\/\">JAIIB Frequently Asked Questions- 2022| Check Here (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-questions-pdf\/\">JAIIB Genius | JAIIB Weekly Quiz PDF \u2013 JAIIB Questions PDF (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-full-form\/\">JAIIB Full Form \u2013 Junior Associate of the Indian Institute of Bankers (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/blog\/jaiib-and-caiib-books\/\">JAIIB and CAIIB Books- Exams Syllabus, Books, and more (oliveboard.in)<\/a><\/li><\/ol>\n\n\n\n<p>Also Check:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/\">JAIIB 2022 Exam -Notification Released (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/notification\">JAIIB Notification 2022 \u2013 Notification PDF, Eligibility, (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/application-form\">JAIIB Apply Online \u2013 Application Form 2022, Fees, Instru (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/eligibility\">JAIIB Eligibility \u2013 Age, Degree, Nationality, Members (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/syllabus\">JAIIB Syllabus \u2013 Complete List of Papers, Modules (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/exam-pattern\">JAIIB Exam Pattern 2022 \u2013 Details of Pattern, Marking (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/admit-card\">JAIIB Admit Card November 2022 \u2013 Steps and Direct Download (oliveboard.in)<\/a><\/li><li><a href=\"https:\/\/www.oliveboard.in\/jaiib\/cut-offs\">JAIIB 2022 Cut Offs \u2013 Check JAIIB Minimum Cut Off (oliveboard.in)<\/a><\/li><\/ol>\n\n\n","protected":false},"excerpt":{"rendered":"<p>Expenditure on commercial assets such as furniture, fixtures and fittings, motor vehicles, machinery, and equipment are neither goods nor costs<\/p>\n","protected":false},"author":50,"featured_media":96402,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,10353],"tags":[],"class_list":["post-96392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-jaiib","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Depreciation and Its Accounting for JAIIB June 2022<\/title>\n<meta name=\"description\" content=\"Read this ebook to get notes on Depreciation, factors affecting it, objectives and other details. Also, learn about Depreciation More!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Depreciation and Its Accounting for JAIIB\" \/>\n<meta property=\"og:description\" content=\"Expenditure on commercial assets such as furniture, fixtures and fittings, motor vehicles, machinery, and equipment are neither goods nor costs of a year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/\" \/>\n<meta property=\"og:site_name\" content=\"Oliveboard\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Oliveboard\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-24T07:44:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-31T09:24:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/05\/JAIIB-exam-FI-3.png\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Saloni Singhal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:site\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saloni Singhal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/\"},\"author\":{\"name\":\"Saloni Singhal\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#\/schema\/person\/6aedd7baaab0f33dc2f40834a257f88c\"},\"headline\":\"Depreciation and Its Accounting for JAIIB\",\"datePublished\":\"2022-05-24T07:44:34+00:00\",\"dateModified\":\"2022-05-31T09:24:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/\"},\"wordCount\":1582,\"publisher\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/05\/JAIIB-exam-FI-3.png\",\"articleSection\":[\"Articles\",\"JAIIB\"],\"inLanguage\":\"en-US\"},{\"@type\":[\"WebPage\",\"FAQPage\"],\"@id\":\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/\",\"url\":\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/\",\"name\":\"Depreciation and Its Accounting for JAIIB June 2022\",\"isPartOf\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2022\/05\/JAIIB-exam-FI-3.png\",\"datePublished\":\"2022-05-24T07:44:34+00:00\",\"dateModified\":\"2022-05-31T09:24:03+00:00\",\"description\":\"Read this ebook to get notes on Depreciation, factors affecting it, objectives and other details. 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I'm a dedicated Government Job aspirant turned passionate writer &amp; content marketer. My blogs are a one-stop destination for accurate and comprehensive information on exam categories like Regulatory Bodies, Banking, SSC, State PSCs, and more. I am on a mission to provide you with all the details you need, conveniently in one place. When I am not writing and marketing, you will find me happily experimenting in the kitchen, cooking up delightful treats. Join me on this journey of knowledge and flavors!\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#faq-question-1653377948043\",\"position\":1,\"url\":\"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#faq-question-1653377948043\",\"name\":\"Q. Why is the unit of production method of depreciation not used by all businesses?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"A. 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I'm a dedicated Government Job aspirant turned passionate writer &amp; content marketer. My blogs are a one-stop destination for accurate and comprehensive information on exam categories like Regulatory Bodies, Banking, SSC, State PSCs, and more. I am on a mission to provide you with all the details you need, conveniently in one place. When I am not writing and marketing, you will find me happily experimenting in the kitchen, cooking up delightful treats. Join me on this journey of knowledge and flavors!"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#faq-question-1653377948043","position":1,"url":"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#faq-question-1653377948043","name":"Q. Why is the unit of production method of depreciation not used by all businesses?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"A. To compute depreciation, this technique merely takes into account utilisation. However, various factors reduce the value of assets over time. This procedure may result in two distinct values for the same asset (depreciation and book value). This, in turn, may cause misunderstanding. Because it disregards the passage of time, this technique may fail to provide a correct depreciation value. This strategy does not apply to all enterprises, such as trade firms, the service sector, and so on. This form of depreciation is only available to manufacturers.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#faq-question-1653377973403","position":2,"url":"https:\/\/www.oliveboard.in\/blog\/depreciation-and-its-accounting\/#faq-question-1653377973403","name":"Q. What are the causes of depreciation?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"A. 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