📨Depreciation Expense

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Depreciation expense is reported on the income statement as any other normal business expense. If the asset is used for production, the expense is listed in the operating expenses area of the income statement. This amount reflects a portion of the acquisition cost of the asset for production purposes.

For example, factory machines that are used to produce a clothing company's main product have attributable revenues and costs. To determine attributable depreciation, the company assumes an asset life and scrap value.

The depreciation expense for a $500,000 machine that is expected to have a value of $100,000 in five years is $80,000 per year. This is calculated as ($500,000 - $100,000) / 5 = $80,000.

Update the VAS_LA: define the depreciated cost field

Depreciated cost is the value of a fixed asset minus all of the accumulated depreciation that has been recorded against it. In a broader economic sense, the depreciated cost is the aggregate amount of capital that is "used up" in a given period, such as a fiscal year.