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Illustration: Depreciation And Accounting - Generative Ai

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Depreciation and Accounting is a financial concept that refers to the gradual reduction in the value of an asset over time and the systematic recording of financial transactions in accordance with established accounting principles. It involves recognizing and allocating costs, estimating useful life, and determining the methods for calculating depreciation expenses.

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accounting generative ai depreciation financial asset value reduction recording methods devaluation bookkeeping finance amortization generated

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