{"iri":"https://folio.openlegalstandard.org/R8sskZUTqRM7drGfBsKJGDp","label":"Asset Depreciation","sub_class_of":["https://folio.openlegalstandard.org/RBHI06ZAbtF2eveFVFadYwb"],"parent_class_of":[],"is_defined_by":null,"see_also":[],"comment":null,"deprecated":false,"preferred_label":"Capital Consumption","alternative_labels":["Valuation Loss","Value Reduction","Write-Down"],"translations":{},"hidden_label":null,"definition":"Asset Depreciation is the systematic decrease in the recorded value of an asset over time, typically due to wear and tear, obsolescence, or the passage of time. This accounting method allocates the cost of tangible assets over their useful life, reflecting the reduction in the asset's economic value.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}