In my latest blog post, I explained how to calculate depreciation, a process crucial for both businesses and individuals. I introduced the concept of depreciation, which is the reduction in the value of an asset over time. Then, I covered the two common methods to calculate it: the straight-line method and the declining balance method. I also provided detailed examples for each method to help you better understand how they work. Remember, understanding and tracking depreciation is essential for accurate financial reporting and tax deductions.