What Is an Accumulated Depreciation Account?

Answer In modern-day corporate management procedures, top leadership pays attention to strategies, approaches and tools that department heads use to allocate asset costs at the end of each month and quart... Read More »

Top Q&A For: What Is an Accumulated Depreciation Account

What type of an account is an accumulated depreciation?

Accumulated depreciation is an account that is included on financial reports regarding fixed assets. Accumulated depreciation is different from most items reported along with fixed assets because i... Read More »

How to Account For Accumulated Depreciation?

Knowing how to handle asset depreciation is an integral part of the accounting profession. A major part of this task is accounting for accumulated depreciation. While the process can be moderately ... Read More »

Is Accumulated Depreciation a Liability Account?

Accumulated depreciation is an accounting classification that reduces the value of certain depreciable asset categories. As a result, accumulated depreciation is termed a contra-asset. These bala... Read More »

Is Accumulated Depreciation a Permanent Account?

When a company purchases a large physical asset, it records that transaction in the accounting records as an asset, not as an expense. Expenses reduce the company's net income and taxable income du... Read More »