non-depreciable
personal-use property
A non-depreciable asset is an asset that does not lose its value over time and therefore does not need to be depreciated. This type of asset tends to be long-lasting and retains its value over a long period of time, such as land or certain types of artwork.
For example, land is a type of non-depreciable asset because it doesn’t wear out or become obsolete over time. Its value may fluctuate due to market conditions but it will generally hold its value over the long-term. Similarly, certain types of artwork, if they are rare and highly valued, may appreciate in value over time rather than depreciate.
Non-depreciable assets are typically not amortized either, as there is no reduction in their value over time. This means that they are reported on a business’s balance sheet at either their historical cost or fair market value, depending on accounting standards.
It is important to note that while non-depreciable assets do not need to be depreciated, they still need to be properly maintained and insured to ensure their continued value and usefulness.
More Answers:
Understanding Real Property: Land, Structures, and Legal ProtectionsHow much sick leave payout can you expect after being fired in California? Learn about the state labor law and employer policy
NPDES: Protecting Water Quality in the US through Point Source Pollution Regulation