The sum of all the depreciation expense recorded to date for a depreciable asset is called Accumulated Depreciation
- Accumulated Depreciation is defined as the total amount of a company's assets which are depreciated to date.
- Accumulated Depreciation is not regarded as asset or as a liability but considered as a contra asset since it offsets the balance of the asset.
- Accumulated Depreciation is treated as an expense and on profit and loss account, it is debited.
It is calculated as
Accumulated Depreciation = { (Cost of assets - Salvage value ) / life of asset } X Number of years
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