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Depreciation Expense
The systematic allocation of the cost of a tangible asset over its useful life, reflecting the consumption or wear and tear of the asset.
Financial Statement
A formal record of the financial activities and position of a business, person, or other entity, often assessed for financial health and performance.
Goodwill
An intangible asset that arises when a business is acquired for more than the fair value of its identifiable net assets.
Intangible Assets
Non-physical assets that have value due to their intellectual or contractual rights, such as patents, trademarks, copyrights, and goodwill.
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