Half-Year Convention Definition
Half-Year Convention Definition:
A requirement under the Modified Accelerated Cost Recovery System (MACRS) that allows a company to take only a half year’s depreciation in the first and last years of an asset’s depreciation period.
Other Related Accounting Articles:
- Modified Accelerated Cost Recovery System (MACRS) Definition
- Unit of Production Method
- What is Depreciation?
- Revaluation Method of Depreciation
- Optional Straight Line Method Definition
- Depreciation: Straight Line Biases
- Written Down Value
- Estimated Recovery Value
- Definition, Explanation and Characteristics of “Depreciation” or “Accounting Depreciation
- Market Price Definition
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