Module 4 - Depreciation

ENGINEERING
ECONOMICS
(17HS6ICEEM)
Module – 4
(a) DEPRECIATION
&
(b) BREAKEVEN ANALYSIS
By
Prof. Sandeep K V
Asst. Prof., Dept. of TCE, DSCE
2
Module 4(a) - DEPRECIATION
• Causes of Depreciation
• Basic methods of computing Depreciation:
– Straight line method of depreciation
– Declining Balance method of depreciation
– Sum of the Year’s Digits method of depreciation
– Sinking Fund method of depreciation
– Service Output or units production method
• Numerical Exercises
Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 3

Module 4(b) – BREAK EVEN ANALYSIS
• Introduction to Breakeven Analysis
• Calculation of BEQ (Break Even Quantity)
• Calculation of BEP (Break Even Point)
• Numerical Exercises

(a) DEPRECIATION
Introduction:
• Depreciation basically means a decrease in
worth.
• The word “depreciation” means decrease in
value of any physical asset with the passage of
time.
• Depreciation is the opposite of Appreciation.
• Examples: Real estates, art objects etc.
Physical resources, machines etc.
Introduction Contd…
• Any equipment which is purchased today will not
work for ever. This may be due to wear and tear of
the equipment or obsolescence of technology.
• Hence, it is to be replaced at the proper time for
continuance of any business.
• In business, depreciation of all equipments is
calculated and considered as operating costs.
• This will also help reduce taxes.
• If an amount = depreciated value of an equipment is
saved every year, the sum total could be used in
future to buy new equipment, when old equipment
becomes useless.
Introduction Contd…
• In many industries, new machines needs to be
bought continuously to replace old ones, and this
requires money.
• This money has to be generated from the earnings of
the old equipments.
• Money which is set aside from the earnings of an
equipment for its replacement purpose is called
Depreciation Fund. (or The recovery of money from
the earnings of an equipment for its replacement
purpose is called depreciation fund)
• Depreciation Reserves are used to fund proposals to
improve operations by way of replacing worn-out
equipment. Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 7
Purpose of Depreciation
The Purpose of depreciation is to consider for
two reasons:
(1) To provide for the recovery of capital that has
been invested in physical property
(2) To enable the cost of depreciation to be
charged to the cost of producing products or
service that results from the use of the
property. Depreciation cost is deductible in
computing profits on which income taxes are
paid.
Definition
• Depreciation is the dimension in the value of
fixed asset due to use or lapse of time.
• Building, equipment and machinery wear and
tear with the amount of use and passage of
time.
• Their worth does not remain as much after a
few years as it is today.
• Depreciation may be defined as the reduction
in value of an asset.

Cause of Depreciation
• Assets may depreciate in value for several
reasons. Their decreasing worth may be
attributed to any of the following reasons:
1. Usage.
2. Physical Depreciation.
3. Functional Depreciation.
4. Technological Depreciation.
5. Abnormal occurrences.
6. Sudden Failure.
7. Depletion.
8. Monetary Depreciation.
(More explanation refer textbook)
Methods of providing for Depreciation
1. Straight Line Method.
2. Reducing Balance or Diminishing Balance
Method.
3. Production based Methods.
(a) Per Unit (b) Per Hour
4. Repair Provision Method.
5. Annuity Method.
6. Sinking Fund Method.
7. Endowment Policy Method
8. Re-evaluation Method.
9. Sum of Digits Method.
Basic Methods of Computing Depreciation
Each method should adopt any one or more of
the following:
a) Depreciation is a function of time.
b) Depreciation is a function of use.
c) Depreciation is a function of time and use.
d) Depreciation is a function of time and
maintenance.
e) Depreciation is a function of time and
interest.
Basic Methods (In Syllabus)
1. Straight line (SL) method of depreciation

2. Declining Balance(DB) method of
depreciation
3. Sum of the Year’s Digits (SYD) method of
depreciation
4. Sinking Fund (SF) method of depreciation

Method I: Straight line method of depreciation
• This method is also known as Fixed Percentage
method of depreciation.
• In this method, an equipment is considered to be
depreciating uniformly throughout its service life.
• In such a case, a fixed sum is charged as
depreciation amount throughout the lifetime of
the equipment.

SL method Continued
• The accumulated sum at the end of the life of the
equipment is exactly equal to the purchase value
of the equipment minus its salvage value.(P-S)
• In Other words, with depreciation fund + salvage
value, one can buy a new equipment, provided
its price has not changed. Thos is known as SL
method of depreciation.

SL method Continued
Let, P = First cost of the equipment
S = Salvage value of the equipment
n = Life of the equipment
Bt = Book value of the asset at the end of
period t
Dt = Depreciation amount for the period t
Dt = (P – S) / n
Bt = Bt-1 – Dt For successive period
Bt = P – t[P – S / n ]  For any given period
Some Definitions:
• Book Value (BV): This is the worth of a
depreciable property as shown on the accounting
records of the company at any given point of time
(t) during its life. It is based on original cost of the
property.
• It represents the amount of capital that remains
invested in the property and must be recovered
in the future through the accounting process.
• BV at the end of time ‘t’ can also be thought of as
the amount recovered(salvaged) if the asset is
sold at that point. 17
Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE
Definitions:
• Depreciation Amount (DE): Depreciation amount
is also simply known as depreciation.
• Money invested on machines bring revenues.
Machines also depreciates on a continuous basis.
• Therefore, a portion of money is deducted from
revenue and set aside as depreciation amount.
• This amount may vary during the service life of a
asset and hence it may be calculated for any time
period ‘t’.
• Depreciation fund is the sum of Depreciation
amounts up to a time period, ‘t’.
18
Example 1
A student has bought a moped whose first cost
is Rs.10,000 with an estimated life of 8 years.
The estimated salvage value of the moped at the
end of its lifetime is Rs.2,000. Determine the
depreciation amount and the book value at the
end of various years using straight line method
of depreciation. Also find the book value at the
end of 7th year as a specific period.

Solution:
• Given, Initial cost, P = Rs.10,000
Salvage Value, S = Rs.2,000
Life of Moped, n = 8 years
Depreciation amount, Dt = ?
Book Value Bt = ?
Dt = (P – S) / n = (10,000 – 2,000) / 8
Dt = Rs.1,000
Depreciation amount Dt = Rs.1,000 is
uniform and independent of time period.
20
• Depreciation amount Dt = Rs.1,000 is uniform
and independent of time period.
• This means that the moped depreciates every
year by Rs.1,000 uniformly.
• Book value at time zero, B0 = Rs.10,000
• Book value at time period, Bt = Bt-1 – Dt
Bt = Bt-1 – Dt
B1 = B1-1 – D1
B1 = B0 – Dt (Because D1 = D2= D3 = Dt = Rs.1,000)
B1 = 10,000 – 1, 000 = 9,000
Similarly, B2 = 9,000 – 1, 000 = 8,000
B3 = 8,000 – 1, 000 = 7,000 and so on….
21
Table showing the values of D t and Bt for all years
End of Year(t) Deprecation(Dt) Book Value
Amount Bt = Bt-1 - Dt
0 - 10,000
1 1000 9,000
2 1000 8,000
3 1000 7,000
4 1000 6,000
5 1000 5,000
6 1000 4,000
7 1000 3,000
8 1000 2,000
22
• To Find book value for specific period of 7 thyear
When t = 7
Bt = P – t[P – S / n ]
Bt = 10,000 – 7 [ (10,000 – 2,000) / 8 ]
Bt = Rs. 3,000
This is the Book value at the end of 7 th Year.
Prof. Sandeep K V, Asst. Prof., Dept. of TCE,

23
DSCE
EXAMPLE 2
• A company has purchased an equipment
whose first cost is Rs.1,00,000 with an
estimated life of eight years. The estimated
salvage value of the equipment at the end of
its lifetime is Rs.20,000. Determine the
depreciation charge and book value at the end
of various years using the straight line method
of depreciation.

Solution
Given, P = Rs. 1,00,000
S = Rs. 20,000
n = 8 years
• Dt = (P – S)/n = (1,00,000 – 20,000)/8
Dt = Rs. 10,000
In this method of depreciation, the value of Dt is
the same for all the years.
• The calculations pertaining to Bt for different
values of t are summarized in Table
Table: Dt and Bt Values under Straight line
Method of Depreciation
If we are interested in computing Dt and Bt for a specific

period (t), the formulae can be used.
In this approach, it should be noted that the depreciation is
the same for all the periods.
EXAMPLE 3
Consider Example 2 and compute the depreciation
and the book value for period 5.
Solution:
P = Rs. 1,00,000
S = Rs. 20,000
n = 8 years
D5 = (P – S)/n = (1,00,000 – 20,000)/8
D5 = Rs. 10,000
(This is independent of the time period)
Bt = P – t [(P – S)/n ]
B5 = 1,00,000 – 5 (1,00,000 – 20,000)/8
B5 = Rs. 50,000
ASSIGNMENT
EXAMPLE 4
A melting unit for a steel foundry was purchased
for Rs.40,000. Rs.10,000 more were spent in its
errection and commissioning. The estimated
residual value after 10 years was Rs.12,000.
(a) Calculate the annual rate of depreciation.
(b) Calculate the book value of the machine at the
end of each year using the SL method and plot the
graph of number of years v/s the depreciation fund.
(c) Calculate the depreciation fund collected at the
end of the 8th year.
ASSIGNMENT
EXAMPLE 5
An investment of Rs.5000 in a new equipment is
expected to have a salvage value of Rs.1000
after a 4 year life.
(a) Find a SL method of depreciation expense.
(b) Plot the graph of number of years v/s the
depreciation fund.

Advantages of SL method
1. This method is easy to understand and
simple to operate.
2. It is frequently used in practice.
3. Uniform annual charge offers better
comparative costs.
4. This method requires little work for
calculating depreciation amounts.

Disadvantages of SL method
1. The fixed assets do not wear out exactly at
the same rate during their life.
2. A straight line method in many cases
becomes unrealistic.

Method II: Declining Balance(DB) method of
depreciation
• In this method, depreciation amount for any period is a
constant percentage of the book value of the previous
period of the asset.
• Depreciation amount decreases for each successive
period (In SL method, Dt is constant).
• This approach is more realistic since, the depreciation is
more dependent on recent book values rather than the
original one.
• The sum of all depreciation amounts + salvage value of
the asset will not be equal to the first cost of the asset as
in SL method. This is a major limitation of this method.
DB method continued
Let
P = First cost of the asset,
S = Salvage value of the asset,
n = Life of asset,
Bt = book value of asset at the end of period t,
k = a fixed percentage(to find Dt)
Dt = depreciation amount for period t.
The formulae for depreciation and book value
are as follows:
DB method continued
• Formulae to find Dt and Bt :
Dt = k x Bt-1
Bt = Bt–1 – Dt  To find book value for successive
periods
Bt = Bt–1 – ( k x Bt–1 )= Bt–1 (1 – k)
Bt = Bt–1 (1 – k)  To find book value for any
specific time period t and Bt–1
Formulae to find Dt and Bt in terms of P:
Dt = k(1 – k)t–1 x P
Bt = (1 – k)t x P
 While availing income-tax exception for
the depreciation amount paid in each
year, the rate K is limited to at the most
k = 2/n = 200%/n .
 If this rate is used, then the
corresponding approach is called the
double declining balance method of
depreciation.

EXAMPLE 6
Consider, P = Rs. 1,00,000, F = Rs. 20,000, n = 8 years and
demonstrate the calculations of the declining balance
method of depreciation by assuming 0.2 for K.
Solution
P = Rs. 1,00,000
S = Rs. 20,000
n = 8 years
K = 0.2
The calculations pertaining to Dt and Bt for different values
of t are summarized in Table using the following formulae:
Dt = K x Bt-1
Bt = (1 – K)Bt–1

Table Dt and Bt according to Declining Balance Method of
Depreciation
End of year Depreciation Book value
(n) (Dt) (Bt)
0 ---- 1,00,000.00
1 20,000.00 80,000.00
2 16,000.00 64,000.00
3 12,800.00 51,200.00
4 10,240.00 40,960.00
5 8,192.00 32,768.00
6 6,553.60 26,214.40
7 5,242.88 20,971.52
8 4,194.30 16,777.22
• If we are interested in computing Dt and Bt for a specific
period t, the respective formulae can be used.
EXAMPLE 7
• Consider, P = Rs. 10,000, S = Rs. 2,000, n = 8
years, k = 10% or k = 0.10. Demonstrate the
calculations of the declining balance method of
depreciation.
Solution: To find Depreciation amount when t=1
Dt = k x Bt-1
D1 = k x B0
D1 = 0.1 x 10,000
D1 = 1000
To find book amount when t=1
Bt = Bt-1 - Dt
B1 = B1-1 – D1 = B0 – D1
D1 =10,000 - 1000
D1 = 9000
End of year Depreciation Book value
(n) (Dt) (Bt)
0 ---- 10,000.00
1 1,000.00 9,000.00
2 900.00 8100.00
3 810.00 7290.00
4 729.00 6561.00
5 656.10 5904.90
6 590.49 5314.4
7 531.44 4782.97
8 478.29 4304.68
• From the table it is clear that depreciation amount
is not constant for each period.
• It is also observed that book value decreases at a
decreasing rate.
To find Dt and Bt at the end and specific period,
When t =7,
Dt = k(1 – k)t–1 x P = 0.1 (1-0.1)’8 * 10000 = 531.441
this is the depreciation amount for period t=7
Bt = (1 – k)t x P = (1-0.1)’7 * 10000 = 4782.97
this is the book value at the end of period t=7
[Note: when k = 200%/n = 2/n, it is known as Double-

declining balance method. It has same characteristics as
Declining Balance method]
ASSIGNMENT
EXAMPLE 8
A machine costs Rs.10,000 has a scrap value of
Rs.400 at the end of 4 years of its serviceable
life. Using the DB method:
(a) Determine the depreciation and book value
in each year.
(b) Plot the graph of number of years v/s the
depreciation fund.
(c) What is the amount of depreciation collected
at the end of 2nd year or after 2 years.

ASSIGNMENT
EXAMPLE 9
A car was purchased for Rs.32,000 and salvage
value was estimated Rs.8000 after 7 years. Using
the DB method:
(a) Calculate the percentage of depreciation.
(b) Determine the depreciation and book value in
each year.
(c) Plot the graph of number of years v/s the
depreciation fund.

ASSIGNMENT
EXAMPLE 10
Two machines are purchased each for
Rs.12,000. The estimated useful life of machine
is 5 years. The estimated scrap value is Rs.2000.
For machine A, SL method and for B, DB method
are used to calculate the depreciation every
year. Compare the depreciation charged in each
year of both A and B machine. Plot the graph of
number of years v/s depreciation fund for both.

Advantages of DB method
1. It is simple to understand and calculate.
2. Mathematical relationship can be employed
to arrive at the appropriate percentage.
3. This method is more logical as the largest
annual amount of depreciation is charged in
the first year where repair and maintenance
charges are almost negligible.

Disadvantages of DB method
1. It is not simple to fix percentage accurately.
2. A standard percentage for all conditions may
produce misleading results.

III: Sum-of-the year-Digits(SYD) Method
Following is a step-by-step description of SYD
i. In this method of depreciation also, it is
assumed that the book value of the asset
decreases at a decreasing rate.
ii. If the asset has a life of ten years, first the sum
of the years is computed as,
Sum of the years = 1+2+3+4+5+6+7+8+9+10 = 55
or sum of years =

iii. The rate of depreciation charge for the first year is
assumed as the highest and then it decreases. The
rates of depreciation for the years 1 to 10,
respectively are as follows:
Year 1 = 10/55 Year 6 = 5/55
Year 2 = 9/55 Year 7 = 4/55
Year 3 = 8/55 Year 8 = 3/55
Year 4 = 7/55 Year 9 = 2/55
Year 5 = 6/55 Year 10 = 1/55
{If ‘n’ is the life of m/c the rate is calculated for each
period as a fraction in which denominator is always
the sum of the year and numerator for the first
period is n, second period is (n-1) and so on}.
iv. For any year, the depreciation is then calculated
by multiplying the corresponding yearly rate of
depreciation with (P – S).
Dt = Yearly Rate x (P – S)
Bt = Bt–1 – Dt
where, P = Initial cost, S = Salvage value.
• The formulae for Dt and Bt for a specific year ‘t’
are as follows:
Dt =

EXAMPLE 11
Demonstrate the calculations of the sum-of-the-
years-digits method of depreciation.
Given: P = Rs. 1,00,000, S = Rs. 20,000, n = 8 years
Solution:
Sum = n(n + 1)/2 = 8 x 9/2 = 36
The rates for years 1–8, are respectively
8/36, 7/36, 6/36, 5/36, 4/36, 3/36, 2/36 and 1/36.
The calculations of Dt and Bt for different values of t
are summarized in Table using the following
formulae:
Dt = Yearly Rate x (P – S)
Bt = Bt–1 – Dt
• If we are interested in calculating Dt and Bt for a
specific t, then the usage of the formulae would be
better.
EXAMPLE 12
Consider Example 11 and find the depreciation
and book value for the 5th year using the sum-
of-the-years-digits method of depreciation.
Solution
P = Rs. 1,00,000
S = Rs. 20,000
n = 8 years
Dt =

D5 =
D5 = Rs.8,888.88
B5= (1,00,000-20,000)(8-5/8)(8-5+1/8+1)+20,000
B5 = Rs.33,333.33

Method IV: Sinking Fund method
• In this method of depreciation, the book values
decreases at an increasing rate with respect to
the life of the asset. Let
P = First cost of the asset,
S = Salvage value of the asset,
n = Life of the asset,
i = Rate of interest compounded annually,
A = Annual equivalent amount,
Dt = Depreciation amount for period t,
Bt = Book value of asset at the end of the
period t.
• First, the loss of asset value (P-S) over its life time
is calculated.
• This shortfall of amount is made up by setting
aside a depreciation amount every year which is
equivalent to an annual amount deposited in a
bank at a rate of interest i, compounded
annually.
• That means a constant sum(A) is deposited in a
bank which grows at ‘i’ rate of interest and
maturity amount at the end of asset’s life(n) is
equal to (P-S).
• This is nothing but equivalent to Equal Payment
Series Sinking Fund. Here, A=Dt & F=P-S
• The Cash Flow Diagram for this is as shown below
• Hence, although a fixed depreciation amount is

set aside every year, the interests accumulated
makes the depreciation fund increase more than
normally every year.
55
56
EXAMPLE 13
Demonstrate the calculations of the sinking fund
method of depreciation for P=Rs. 10,000,
S=Rs. 2,000, n=8 years & i=10%.
Solution:
To find Dt and Bt for successive periods
Dt = (P-S) (A/F, i, n)
Dt = (10,000-2,000) (A/F, 10%, 8)
Dt = (8000) (0.0874) (….from tables)
Dt = Rs.699.20 Depreciation amount per year.
57
• So, a constant amount of Rs.699.20 is collected as
depreciation amount and invested in bank. i=10%
Dt for year 1, D1 = Rs.699.20
D2 = 699.20(current year) +
699.20 x 0.10 (Interest from previous year)
D2 = Rs.769.12
D3 = 699.20 + (699.20x0.10) + (769.12x0.10)
D3 = Rs.846.03
D4 = 699.20 + (699.20+769.12+846.03)x0.10
D4 = Rs.930.63
D5 = 699.20 + (699.20+769.12+846.03+930.63)x0.10
D5 = Rs.1023.69 58
D6=699.20 +
(699.20+769.12+846.03+930.63+1023.69)x0.10
• D6 = Rs.1126.06
• D7 = Rs.1238.67
• D8 = Rs.1362.54
59
60
EXAMPLE 14
Consider given data and give the calculations
regarding the sinking fund method of depreciation
with an interest rate of 12%, compounded annually. P
= Rs. 1,00,000, S = Rs. 20,000, n = 8 years , i = 12%
Solution
Dt = (P – S) x [A/F, 12%, 8]
= (1,00,000 – 20,000) x 0.0813
= Rs. 6,504
• Fixed amount of Rs. 6,504 will be depreciated at the
end of every year from the earning of the asset.
61
• Depreciation at the end of year 1 (D1)
D1 = Rs. 6,504.
D2 = 6,504 + 6,504 x 0.12 = Rs. 7,284.48
• Depreciation at the end of the year 3 (D3)
D3 = 6,504 + (6,504 + 7,284.48) x 0.12
D3 = Rs. 8,158.62
D4 = 6,504 + (6,504 + 7,284.48 + 8,158.62) 0.12
D4 = Rs. 9,137.65

• These calculations along with book values are
summarized in Table .
Table: Dt and Bt according to Sinking Fund
Method of Depreciation

EXAMPLE 15
• Consider Example 14 and compute D5 and B7
using the sinking fund method of depreciation
with an interest rate of 12%, compounded
annually.
Solution
P = Rs. 1,00,000
S = Rs. 20,000
n = 8 years
i = 12%
Dt = (P – S) (A/F, i, n) (F/P, i, t – 1)
D5 = (P – S) (A/F, 12%, 8) (F/P, 12%, 4)
D5 = (1,00,000 – 20,000) 0.0813 1.574
D5 = Rs. 10,237.30
(This is almost the same as the corresponding value given in the
table. The minor difference is due to truncation error)
Bt = P – (P – S) (A/F, i, n) (F/A, i, t)
B7 = P – (P – S) (A/F, 12%, 8) (F/A, 12%, 7)
B7 = 100000–(100000–20000)x0.0813x10.089
B7= 34,381.10
65
66
EXAMPLE16
The first coat of a road laying machine is Rs.
80,00,000. Its salvage value after five years is Rs.
50,000. The length of road that can be laid by the
machine during its lifetime is 75,000 km. In its third
year of operation, the length of road laid is 2,000 km.
Find the depreciation of the equipment for that year.
Solution
P = Rs. 80,00,000
S = Rs. 50,000
C = 75,000 km
q = 2,000 km
Depreciation for q units of service in a period =
67
• Depreciation for q units of service in a period
Dq= ( P-S / C ) x q
• Depreciation for year 3
D3 = [(80,00,000 - 50,000) / 75,000 ] x 2,000
D3 = Rs. 2,12,000.


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ENGINEERING

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 3

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 4

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 9

1. Straight line (SL) method of depreciation

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 13

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 14

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 15

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 19

This is the Book value at the end of 7 th Year.

Prof. Sandeep K V, Asst. Prof., Dept. of TCE,

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 24

If we are interested in computing Dt and Bt for a specific

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 29

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 30

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 31

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 35

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 36

[Note: when k = 200%/n = 2/n, it is known as Double-

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 41

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 42

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 43

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 44

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 45

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 46

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 48

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 51

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 52

• Hence, although a fixed depreciation amount is

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 62

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 63

Prof. Sandeep K V, Asst. Prof., Dept. of TCE, DSCE 68

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