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Salvage Value
The estimated resale value of an asset at the end of its useful life, often considered for depreciation calculations.
Depreciation
Depreciation is the systematic allocation of the cost of a tangible asset over its useful life to reflect its decrease in value due to wear and tear, age, or obsolescence.
Depreciable Cost
The total cost of a tangible fixed asset that is subject to depreciation over its useful life, including purchase price, installation charges, and other costs necessary to bring the asset into usable condition.
Straight-Line Method
A method of calculating depreciation in which an asset's cost is divided evenly over its estimated useful life.
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