Straight-Line vs. Accelerated Depreciation: Discuss the differences between straight-line depreciation and accelerated depreciation methods (e.g., double declining balance, sum-of-the-years-digits). What are the main advantages and disadvantages of each method? Share real-world examples of when one method might be preferred over the other. Units of Production Depreciation: Explore the concept of units of production depreciation. How does it work, and what industries or scenarios is it most commonly used? Discuss its relevance in today's environment and whether it provides a more accurate representation of asset depreciation. MACRS Depreciation: Understand the Modified Accelerated Cost Recovery System (MACRS) depreciation method, commonly used for tax purposes. What are the key features of MACRS, and how does it differ from other depreciation methods? Discuss the implications of using MACRS on a company's internal statements. Impairment vs. Depreciation: Distinguish between impairment and depreciation in accounting. When should a company consider impairing an asset rather than relying solely on depreciation? Provide examples to illustrate the differences and the impact on financial statements. International Perspective: Explore how depreciation methods vary across international accounting standards (e.g., IFRS vs. GAAP). What challenges do multinational companies face when dealing with varying depreciation methods in different regions? Choosing the Right Method: Consider