What is the objective of accounting for depreciation, Accounting Standards

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What is the objective of accounting for depreciation

Response to the following questions:

1. What is the objective of accounting for depreciation?

2. Explain how recording depreciation affects a company's (a) income statement, (b) balance sheet, and (c) statement of cash flows.

3. Does recording depreciation generate funds for the replacement of the asset? Explain.

Support your answer using a minimum of two professional or academic sources.

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Accounting Standards: What is the objective of accounting for depreciation

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Accounting Standards: What is the objective of accounting for depreciation

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