The process for subtracting the price of tangible personal and real property throughout the course of its useful life is. the process for subtracting amortization costs for intangible assets.
An accounting technique called amortization is used over a set period of time to gradually lower the book value of a loan or other intangible asset. The goal of loan amortization is to postpone loan payments over time. In terms of how it impacts an asset, amortization is similar to depreciation.
Amortize comes from the Vulgar Latin verb amortize, which means "to murder," via Middle English and Anglo-French. The Latin term mors, which means "death," is a derivative of amortize; it is connected to our word "murder" and gave us a word for a type of body.
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