Title: Maintain records for depreciation.
Course: Accounting (12104-I) > Section: Implementing Accounting for Other Scheduled Procedures

Maintenance should include

- examining different methods of calculating depreciation
- choosing the method that most accurately reflects the reduction of economic usefulness of the asset
- recording the decline in the value of physical assets resulting from normal usage and from age
- allocating part of the cost of an asset that will be used up over time to each accounting period during its life cycle.