ACRS
Accelerated Cost Recovery System
ACRS accelerated cost recovery system - IRS method of calculating depreciation for tax purposes.
A Depreciation method that recovers the cost of the asset before its useful life is up.
Assets are depreciated by a schedule; depending on the type of asset it goes into one of six classes; 3, 5, 7, 10, 15, and 20 year classes.
Generally you divide the asset's cost by the number of years for its class and depreciate it that much each year (except the first year and the year following the last, in those you depreciate half of that amount)
