mid-month convention

mid-month convention definition - business

mid-month convention

The accounting practice where, for purposes of depreciation, real property is placed in service or disposed of at the midpoint of the calendar month. Thus, real property receives one half-month of depreciation in the month in which it is acquired or disposed of.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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