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Our small business accountants in Melbourne will explain what depreciation isIn this week’s article we will look at the effects of depreciation and how it affects your business’ assets. Our small business accountants in Melbourne will go into further detail about depreciation for your benefit as a small business owner. Depreciation is a non-cash expense that reduces the value of an assets over periods of time, determining these time periods can be difficult and we recommend getting a business accountant from Melbourne to help. Depreciation is taken as an accounting entry and will not affect the business’ money or earnings. Some assets that can depreciate over time include equipment, furniture, vehicles, technology etc. and often will occur due to time passing, which results in the asset itself loosing value. Our small business accountants in the Melbourne CBD have the qualifications to calculate the amount of depreciation your asset has incurred. One other factor that may cause depreciation is your asset becoming obsolete and is no longer needed or ends up being replaces by a new model. Feel free to contact our small business accountants in Melbourne with any enquiries regarding small business accounting. |