Depreciation is the process of allocating the cost of a tangible asset over its useful life. It represents the reduction in the value of an asset due to wear and tear, obsolescence, or the passage of time. Depreciation is an essential concept in accounting because it helps match the cost of using an asset with the revenue it generates over its useful life. Here are the key points about depreciation: Purpose: Depreciation is recorded to reflect the decrease in the value of tangible assets over time. It allows businesses to allocate the cost of an asset over its useful life rather than expensing the entire cost in the year of purchase. Methods: There are several methods of depreciation, including straight-line depreciation, declining balance depreciation, and units of production depreciation. Each method allocates the cost of the asset differently over its useful life. Recording: Depreciation expense is recorded on the income statement as an operating expense. It reduces the net income and reflects the consumption of the asset's value over time. Simultaneously, accumulated depreciation is recorded on the balance sheet as a contra-asset account. It represents the total depreciation expense recognized for the asset since its acquisition. Useful Life and Salvage Value: Depreciation calculations consider the estimated useful life of the asset and its salvage value (the estimated value of the asset at the end of its useful life). The difference between the asset's cost and its salvage value is spread over its useful life to determine the annual depreciation expense. Impacts: Depreciation affects both the income statement and the balance sheet. It reduces the net income and, consequently, the taxes payable. Additionally, it reduces the carrying value of the asset on the balance sheet, reflecting its decreased value over time. Overall, depreciation is a critical accounting concept used to accurately reflect the consumption of an asset's value over its useful life and to ensure the financial statements provide a true and fair view of a company's financial position and performance.

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Accounting is a vital aspect of business that involves recording, summarizing, analysing, and communicating financial information. It provides a systematic way to track the financial activities of an organization, enabling stakeholders to make informed decisions. Here's an introduction to the fundamental concepts and principles of accounting: Purpose of Accounting: The primary purpose of accounting is to provide relevant financial information about a business entity to internal and external users. Internal users include management and employees who use this information for decision-making, planning, and controlling operations. External users include investors, creditors, government agencies, and the public who rely on financial statements to evaluate the financial health and performance of the business. Key Financial Statements: Balance Sheet: It provides a snapshot of the company's financial position at a specific point in time, showing its assets, liabilities, and equity. Income Statement: Also known as the profit and loss statement, it summarizes the revenues, expenses, and net income (or loss) of a company over a specified period. Statement of Cash Flows: This statement reports the cash inflows and outflows from operating, investing, and financing activities, providing insights into how cash is generated and used by the business. Accounting Principles: GAAP (Generally Accepted Accounting Principles): These are a set of standard accounting principles, standards, and procedures that companies use to compile their financial statements in the United States. It ensures consistency, comparability, and transparency in financial reporting. IFRS (International Financial Reporting Standards): These are accounting standards issued by the International Accounting Standards Board (IASB), used by companies in many countries outside the United States. IFRS aims to harmonize accounting practices globally. Double-Entry Accounting: This is a fundamental accounting principle that states that for every transaction, there are at least two accounts involved, with one account debited and another credited. This ensures that the accounting equation (Assets = Liabilities + Equity) remains balanced. Types of Accounts: Assets: Economic resources owned or controlled by the company, such as cash, inventory, property, and equipment. Liabilities: Obligations owed by the company to external parties, such as loans, accounts payable, and bonds payable. Equity: Represents the residual interest in the assets of the company after deducting liabilities. It includes contributed capital from owners and retained earnings. Revenues: Income generated from the sale of goods or services. Expenses: Costs incurred in the process of generating revenue. Accounting Cycle: This is the process that accountants follow to record, analyse, and report financial transactions of a business. It typically includes steps such as identifying transactions, journalizing, posting to ledgers, preparing trial balances, adjusting entries, preparing financial statements, and closing entries. Auditing: This is the examination of financial statements and accounting records by an independent auditor to ensure their accuracy and compliance with accounting standards and regulations. Understanding these basic principles and concepts provides a solid foundation for anyone interested in learning more about accounting and its role in business operations and decision-making.

This dictionary consists of some 100,000 terms and references in bith French and English, including 4,000 abbreviations. over 45 subject areas are covered, including: * Accountancy * Banking * Business Administration * Computing * Economics * Environment * Finance * General Commerce * Human Resource Management * Import/Export * Industry * Insurance * Law * Leisure * Management * Mathematics * Media * Patents * Politics * Property * Sales & Marketing * Stock Market * Taxation * Tourism * Transport * Welfare & Safety. Also included is a comprehensive up-to-date reference section on countries, business correspondence and situations, job titles, stock exchanges, economic indexes and numbers. KEY FEATURES Term Specialists - the terms list has been checked by over 100 sources including experts from Apple France * Association Française des Banques * Chartered Institute of Banking * France Telecom * Institute of European Trade and Technology * American Graduate School of Management * London School of Economics * Ecole supérieure de commerce de Lyon * Department of Trade and Industry * Law Society * University of Reading * Environment Council * University of Bath * Centre de Recherche et de Gestion * Manchester Business School * Ecole supérieure internationale de commerce and Ecole des hautes études commerciales de Montrial(HEC). Prestigous experts - include Prof. Chris Nobes, Prof. Michel Péron, Prof. Gordon Shenton, Dr. Van de Yeught and Prof. Peter Walton. Native Speakers - all stages of compilation have included native speakers of French as well as English and extensive coverage of US as well as UK terminology.

An excellent book for commerce students appearing in competitive, professional and other examinations 1. Management Accounting : Meaning, Scope and Functions, 2. Accounting Principles : Concepts and Conventions, 3. Financial Statements, 4. Analysis and Interpretation of Financial Statements, 5. Ratio Analysis, 6. Fund Flow Analysis, 7. Cash Flow Statement, 8. Break-Even Point or Cost-Volume-Profit Analysis, 9. Business Budgeting, 10. Budgetary Control, 11. Standard Costing and Cost Variance Analysis, 12. Responsibility Accounting, 13. Differential Cost Analysis, 14. Marginal Costing and Absorption Costing, 15. Decision Accounting and Marginal Costing System.

As a result of the Regulation on the European Company and the Tenth Council Directive, all Member States are obliged to finally implement the merger arrangements of the 1990 Fiscal Merger Directive, forcefully raising the question of the tax consequences of cross-border mergers. This book is the first to focus in such an extended way on the meaning of the 1990 Directive’s tax provisions in this context. With unique and valuable insights drawn from legislative history documents never examined before, its detailed commentary leads to sound and practical recommendations on cross-border mergers within the EU from a tax law perspective. This book also examines to what extent taxation as a result of mergers is in line with the freedom of establishment and the free movement of capital. Clearly analysing the dangers of advance taxation, double taxation, double non taxation, and additional tax claims as a result of a merger, the book deals with such core elements as the following: the aims of cross-border merger relief schemes; the aims of cross-border merger relief schemes; transfer of losses; exit taxation; taxation of dividend withholding tax; employee participation rights; tax standing of creditors of a transferring company; and taxation of foreign shareholders. With its new insights on tax aspects of mergers within the European Union, this book will be of special value to merging companies and their shareholders, to tax administrations and courts, and to legislators who must properly implement the Merger Directive.