Examlex
Two weeks' notice should be given before a person leaves a job.
Past Periods
Previous time frames or accounting periods, which have already concluded and for which financial statements are typically finalized.
Accelerated Depreciation Method
A depreciation method that provides for a higher depreciation amount in the first year of the asset’s use, followed by a gradually declining amount of depreciation.
Units-Of-Output
A depreciation method that allocates the cost of an asset based on its usage or output during the period.
Depreciation Expense
The allocation of the cost of a tangible asset over its useful life to account for wear and tear.
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