Accelerated depreciation is any depreciation method that allows you to recognize higher depreciation costs in previous years.
The main methods of accelerated depreciation are the double declining balance method and the sum of annual digits (SYD) method.
Accelerated depreciation differs from straight-line depreciation, where depreciation costs are spread evenly over the life of an asset.
Companies can use accelerated depreciation for tax purposes as these methods result in a deferral of tax liability as income in earlier periods is lower.
Accountability is the acceptance of responsibility for one’s actions. This implies a willingness to be transparent, allowing others to observe and evaluate their work.