Depreciation in the context of construction refers to the decrease in value of assets over time due to wear and tear, obsolescence, or other factors. In construction, this is particularly important as heavy machinery, equipment, and buildings are constantly being used and exposed to harsh conditions. Depreciation is a key factor in determining the true cost of a construction project, as it affects the overall financial health of a company.Understanding depreciation in construction is essential for accurate budgeting and financial planning. By taking into account the depreciation of assets, construction companies can better allocate resources, plan for maintenance and replacement costs, and ensure the longevity of their equipment and buildings. Depreciation also plays a role in tax planning, as companies can deduct the depreciation expense
What is Depreciation?
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