General Depreciation System (GDS)

General Depreciation System (GDS),

How Do You Define General Depreciation System (GDS)?

  • Meaning of General Depreciation System (GDS): The general depreciation system is a fast cost recovery system (MACRS) that is commonly used to calculate depreciation. Common depreciation systems use a diminishing balance method to transcribe private property.

    Common depreciation systems use the falling balance method to write off private property.

    In the declining balance method, the depreciation rate is applied to the inverse balance.

    For tax purposes, MACRS is the primary method of depreciation and uses the falling balance method or the straight path method.

Literal Meanings of General Depreciation System (GDS)

General:

Meanings of General:
  1. Influence or relation to all or many people, places or things.

  2. Consider or include key features or elements of an item and generally ignore exceptions.

  3. Boss or director.

  4. A high-ranking commander or officer in the army.

  5. The general public.

Sentences of General
  1. Books of general interest

  2. General introduction to this topic

  3. A general manager

  4. The strongest relationship was between military commanders and generals and officers who reported it directly.

Synonyms of General

well established, basic, established, fuzzy, orthodox, ill-defined, loose, common, sweeping, widespread, unfocused, overall, extensive, unspecific, wide, conventional, traditionalist, rough, mainstream, woolly, prevalent, broad, imprecise, prevailing, indefinite, accepted, rife, vague, popular

Depreciation:

Meanings of Depreciation:
  1. Influence of assets over time, mainly due to wear and tear.

Sentences of Depreciation
  1. Provision is required for the depreciation of fixed assets.

Synonyms of Depreciation

cheapening, downturn, decline, slump, markdown, plunge, tumble, reduction, reduction in value, devaluing, downswing, lowering in value, decrease in value, drop, devaluation

System:

Meanings of System:
  1. A series of elements that work together as part of an interconnection or network mechanism.

  2. A set of principles or methods by which something is done, an organized structure or method.

  3. Current political or social order, especially when viewed as oppressive and stubborn.

  4. Grit is a series of sticks in the score.

Sentences of System
  1. National rail system

  2. Multilateral system of government

  3. Don't try to ignore the system

Synonyms of System

the establishment, the regime, framework, line of attack, bureaucracy, line, complex, arrangement, network, the ruling class, the powers that be, line of action, order, method, procedure, way, approach, means, technique, methodology, attack, officialdom, mode, manner, process