Skip to main content
Super TutorResources
Chapter 13 of 28
Revision Notes

Depreciation — Revision Notes

ICSE · Class 11 · Accountancy

Depreciation revision notes for ICSE Class 11 Accountancy: 4 topics in quick points. Part of the ICSE Class 11 Accountancy syllabus.

63 questions40 flashcards3 formulas & key relations5 concepts

Interactive on Super Tutor

Studying Depreciation? Get the full interactive chapter.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for revision notes and more.

Try Super Tutor — Free

Free trial, no card needed.

Key Topics to Revise

1

1. Meaning, Nature, and Characteristics of Depreciation

  • Depreciation is the gradual and permanent decrease in the value of an asset from any cause.
  • It is a permanent decline in the nature of an asset.
  • It applies to tangible fixed assets except land.
2

2. Causes of Depreciation

  • Wear and tear due to constant use is a main cause of depreciation.
  • Assets like lease, copyright, and patent lose value due to expiry of fixed legal life.
  • Obsolescence is loss of usefulness due to improved production methods or new inventions.
3

3. Need or Objectives of Providing Depreciation

  • It helps ascertain true profits because depreciation is an expense like wages, salary, and rent.
  • It gives a true and fair view of financial position in the balance sheet.
  • Depreciation amounts retained in business help create funds for replacement of assets.
4

4. Factors Affecting the Amount of Depreciation

  • Cost of asset includes invoice price less trade discount plus all expenses up to installation.
  • Scrap value is the residual, break up, or salvage value expected at the end of useful life.
  • Effective, commercial, or legal life, whichever is shorter, is used for depreciation.

Get complete notes with diagrams and examples

Full Notes

Key Concepts

Depreciation is the gradual and permanentDepreciation is permanentMain causes include constant useDepletion is used for natural resourcesThe amount of depreciation depends on

Frequently Asked Questions

What are the important topics in Depreciation for ICSE Class 11 Accountancy?
Key topics in Depreciation include Meaning, Nature, and Characteristics of Depreciation, Causes of Depreciation, Need or Objectives of Providing Depreciation, Factors Affecting the Amount of Depreciation. Study these first, then practise questions on each for Class 11 exams.
How should I revise Depreciation for Class 11 exams?
Learn the core ideas first, then work through the 63 practice questions on Depreciation. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Depreciation

All ICSE Class 11 Accountancy Revision Notes

For serious students

Get the full Depreciation chapter — start free.

Quizzes, flashcards, an AI doubt solver and a study plan for ICSE Class 11 Accountancy. Free to start, no card needed.

Try Super Tutor Free
Try this chapter free