Assets within a business are extremely important for a number of reasons. Assets can become investments for growth or investments in another line of business. Assets can also take on many forms such as computer equipment, vehicles, furniture, buildings, land, and so on. Assets are not only important within the business for which they are used, but they are also used as a method of reducing the tax burden on a business.
As a financial manager, you are tasked with calculating the depreciation expense for a laptop computer with a useful life of five years.
In this recipe, you will learn to calculate the depreciation of an asset over the life of the asset.
There are several different methods of depreciation. ...