Book Depreciation

What does Book Depreciation mean in American Law?

The definition of Book Depreciation in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

The depreciation shown on the books of the owner, which may be different from that used for tax purposes. There is nothing improper in this; the owner may use accelerated depreciation schedules available to him under tax law to increase his deduction, but still seek to reflect on his books what he considers a more realistic rate of physical depreciation.

Concept of Book Depreciation in the context of Real Property

A short definition of Book Depreciation: Depreciation reserved (on the books) by an owner for future replacement or retirement of an asset.

Concept of Book Depreciation in the context of Real Property

A short definition of Book Depreciation: Depreciation reserved (on the books) by an owner for future replacement or retirement of an asset.