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When opposed to straight-line depreciation, which employs the same amount of depreciation each year over an asset's useful life, the double-declining balance depreciation method accelerates depreciation and counts as an expense more quickly.
What is the depreciation process known as the twofold decreasing balance?
- The Double Declining Balance depreciation Method is an accelerated depreciation method that, in comparison to straight-line depreciation, counts twice as much of the asset's book value as an expense each year.
- Most taxpayers use what is known as the "half year convention."
Is declining balance a technique for accelerating depreciation?
The declining balance method accelerates depreciation by recording higher depreciation costs in the early years of an asset's useful life and lower depreciation costs in the later years.
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