asset management and depreciation
Asset management refers to the process of controlling and maximizing the value of an organization's assets. This involves effectively tracking, utilizing, and maintaining assets to ensure optimal performance and long-term viability. Depreciation, on the other hand, refers to the gradual decrease in the value of an asset over its useful life. It is a method used to allocate the cost of an asset over its estimated lifespan, reflecting the wear and tear, obsolescence, and decrease in market value that occurs over time.
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