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Depreciation means decrease in the value of Assets. There are various reasons for depreciation such as wear and tear, Outdated technology and so on. Accounting of Depreciation is governed by Accounting Standard- 6 as Issue by ICAI.
Following are methods to calculate depreciation:
1.Straight line Method (SLM)
2. Written down value Method (WDV)
3. Annuity Method and so on
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