UNITS-OF-PRODUCTION METHOD

UNITS-OF-PRODUCTION METHOD

units-of-production method. Tax. An accounting method in which the depreciation provision is computed at a fixed rate per product unit, based on an estimate of the total number of units that the property will produce during its service life. ? This method is used in the oil-and-gas industry when the total number of units of production (i.e., barrels in a reserve) can be accurately estimated.
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