Expenses related to recognizing the expiration of tangible and intangible assets shall be classified into the following accounts:

1. (a) Account 4905, depreciation, classification shall be for recording the expiration of the estimated service life of assets used by the fund types maintained on the accrual basis of accounting; and
2. (b) Account 4906, amortization, classification shall be for recording the expiration of the intangible assets used by the fund types maintained on the accrual basis of accounting.

Source. #5455, eff 8-28-92; ss by #6808, eff 7-21-98; ss by #8687, eff 7-21-06; ss by #10652, eff 8-8-14 (from Rev 2206.12); ss by #14027, eff 7-16-24