Group depreciation is an accounting method used to allocate the cost of a group of similar assets over their useful lives. Instead of depreciating each asset individually, group depreciation treats the assets as a single unit, applying a uniform depreciation rate. This approach simplifies record-keeping and is often used for assets with similar characteristics and life spans, such as machinery or vehicles.
Get Your FREE Exam Secrets Cheat Sheet!
Plus a 3-Part CMA Video Course
82,000+ accounting and finance pros got their free CMA cheat sheet.
Get yours too, today!