What is the accounting method called that systematically allocates the unexpired cost of fixed assets as expenses over multiple accounting periods?

Explanation

Depreciation is the accounting technique used to allocate the cost of a fixed asset gradually over its useful life. This process matches the expense with the revenue generated by the asset over time. Unlike physical wear or market value fluctuations, depreciation is a systematic expense allocation recorded in each accounting period until the asset's value is fully expensed or disposed of. It is a fundamental part of accounting for tangible assets, alongside purchase recording and eventual disposal.