Lawriter - OAC - 1301:9-2-15 Depreciation and amortization.

1301:9-2-15 Depreciation and amortization.

The term "depreciation" means the systematic allocation of the cost of an asset to expense over the accounting periods making up the asset's useful life according to GAAP.


Effective: 11/26/2018
Five Year Review (FYR) Dates: 9/10/2018 and 11/24/2023
Promulgated Under: 119.03
Statutory Authority: 1733.41
Rule Amplifies: 1733.04
Prior Effective Dates: 2/11/88, 8/3/93, 7/1/06, 3/22/12