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To have better and accurate information from the financial statements, we should depreciate the non-current periodically. The value of the assets will not be right comparing with all the work that the company used on it. Conservtisim allow us to recognize these expenses imediately instead of waiting for this assets to be sold or fully depreciated.
I will really try to answer you based from the knowledge earned while I was still in the university and according to my experiences as well. Hope this would help you somehow.
First, as far as I know, only the Fixed Assets were the ones depreciated. Fixed asset acquisiton was
treated as a Capital Expenditure and not as an expense. Capital Expenditure meaning acquiring an asset over a period of time. Hence, if that will be over a period of time, depreciation is needed to systematically expense part of it.
2nd, because if this amount would be expense at once, your Income Statement or Profit & Loss Statement will not be giving a true picture on the result of your operation and would be deceiving. Why, as these Fixed Assets will be used over its estimated useful life, therefore, cost of these Fixed Asset should be allocated over it also to show your expenses fairly.
Again, if my memory serves me right, Non-Current Assets could be Fixed Assets and Intangibles. While Fixed Assets are being depreciated, Intangibles are not but they are being subject to evaluation from time to time for its clear and fair value.
