Depreciation schedule
A period-by-period table showing the carrying value of the right-of-use asset and the depreciation charge each period.
Definition
The ROU asset depreciation schedule shows the opening net book value, the depreciation charge for each period, and the closing net book value. Depreciation is typically calculated on a straight-line basis over the shorter of the lease term and the useful economic life of the underlying asset.
Why it matters
The depreciation schedule drives the P&L charge for ROU asset depreciation and must agree to the ROU asset movement in the statutory note.
In AuditLease
AuditLease produces a full depreciation schedule for each lease alongside the amortisation schedule, both available for download.
Related terms
Put this into practice with AuditLease
AuditLease handles IFRS 16 and FRS 102 lease calculations, statutory note generation, journal entries, and audit evidence — so your team spends less time on spreadsheets and more time on judgements.
This definition is for general information only and is not accounting or legal advice. Definitions are based on IFRS 16, FRS 102, and associated guidance published by the IFRS Foundation and the Financial Reporting Council. Users should refer to the applicable accounting standards and their professional advisers for judgement-specific matters.