Depreciation is defined as a reduction in the value of an asset that occurs over time as the asset gets older or as wear and tear occurs, or the decline of one currency in relation to others. In this app include following main Topics: *Concept of depreciation *Objective *Depreciation methods *Factors in measurement of depreciation *Methods of recording depreciation *Selection of appropriate method  *Advantages of Straight line method: *Advantages of Diminishing balance Method *Terms Commonly