Asset Depreciation - FOLIO Ontology

Identification

IRI:

https://folio.openlegalstandard.org/R8sskZUTqRM7drGfBsKJGDp

Label Asset Depreciation

Preferred Label Capital Consumption

Identifier N/A

Alternative Labels

Valuation Loss Value Reduction Write-Down

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.

Class Relationships

Sub Class Of

• Valuation Metrics

Is Defined By

N/A

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Additional Information

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Description

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Notes

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Editorial Information

History Note

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Editorial Note

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Deprecated

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Source and Origin

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