What Are Depreciation Schedules?
Depreciation schedules are supplementary documents typically found in a company’s reported financial statement disclosures. They contain information on the type of assets the company is depreciating, as well as its depreciation style, asset salvage value, asset useful life, and other pertinent information. A schedule usually exists for each asset or group of assets owned by the company. Accountants can also use these schedules to document their actions during a financial audit or to reconcile internal depreciation schedules with required tax depreciation information.
