storytelling on depreciation
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Story on Depreciation
Once upon a time, George’s father discusses the concept of depreciation with his business partner. George was carefully listens the discussion. After the discussion, George went to his father and asked more details about depreciation. His father told him that Depreciation is an accounting technique of assigning the cost of a tangible or physical asset over its valuable life or life anticipation. Depreciation signifies how much of an asset's value has been used up. Depreciating assets aids companies earn profits from an asset while expending a portion of its cost each year the asset is in use. If not taken into account, it can significantly affect profits.
Businesses can depreciate long-term resources for both tax and accounting drives. Then George have clear concept of depreciation.
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