differentiate between depreciation and amortization?

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Depreciation is the allocation of the cost of tangible assets over their useful life, while amortization is the allocation of the cost of intangible assets over their useful life.

Depreciation applies to tangible assets like buildings, machinery, and vehicles, while amortization applies to intangible assets like patents, copyrights, and trademarks.
Depreciation is usually calculated using methods like straight-line or accelerated depreciation, while amortization is typically calculated using the straight-line method.
Depreciation expense is recorded on the income statement, while accumulated depreciation is shown on the balance sheet. Amortization expense is also recorded on the income statement, with accumulated amortization shown on the balance sheet.

differentiate between depreciation and amortization?

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