What is depreciation in Accounting ? | ACCOUNTING BASICS PART 7

What is Depreciation? | Straight Line & Declining Balance Method Explained with Examples

In this video, we break down the basics of depreciation in accounting, covering what depreciation is, why it's important, and how it impacts financial statements. We’ll walk you through the Straight Line Method and the Declining Balance Method — two of the most commonly used depreciation techniques.

Whether you're a student, accountant, small business owner, or just curious about how assets lose value over time, this video will give you a clear, beginner-friendly explanation with simple examples.

📚 What You’ll Learn:
What is Depreciation?

Importance of Depreciation in Accounting

Straight Line Method (SLM) – Formula + Example

Declining Balance Method – Formula + Example

Link to my previous video:
   • Types of Costs | ACCOUNTING BASICS PART 6  

⏱️ Timestamps:
00:00-00:23: Introduction
00:24-00:53: What is Depreciation?
00:54-01:41: Importance of Depreciation
01:42-02:35: Straight line method explained with example
02:36-03:37: Declining Balance method explained with example
03:37-03:45: Outro

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📌 Hashtags:
#Depreciation #AccountingBasics #FinanceEducation #StraightLineMethod #DecliningBalanceMethod