Unit of Production method calculates the depreciation for the asset when the asset’s value is closely related to the number of units produced| Deskera Blog
Salvage value is defined as the book value of the asset once the depreciation has been completely expensed.| Deskera Blog
In finance, asset impairment is the term used for when there’s a permanent decrease in the value of a company’s asset- both tangible and intangible.| Deskera Blog
Depreciation is a term in accounting that refers to the process of allocating the cost of an asset your company bought (like machinery, heavy equipment, property, etc.) over the period of its lifecycle.| Deskera Blog