Yes
Accumulated depreciation is the total depreciation for a fixed asset that has been charged to expense since that asset was acquired and made available for use. For example, ABC International buys a machine for $100,000, which it records in the Machinery fixed asset account. ABC estimates that the machine has a useful life of 10 years and will have no salvage value, so it charges $10,000 to depreciation expense per year for 10 years. Depreciation Expense: An expense account; hence, it is presented in the income statement. It is measured from period to period. In the illustration above, the depreciation expense is $6,000 for 2012, $6,000 for 2013, $6,000 for 2014, etc. Accumulated Depreciation: A balance sheet account that represents the accumulated balance of depreciation. Depreciation is recorded by debiting Depreciation Expense and crediting Accumulated Depreciation. This is recorded at the end of the period (usually, at the end of every month, quarter, or year). The entry to record the $6,000 depreciation every year would be: A company buys an asset for $5,000 that has a five-year lifespan and zero salvage value. The company uses straight-line depreciation, and the asset depreciates at a rate of $1,000 per year. In year one, depreciation will be $1,000, as will accumulated depreciation, and carrying value of the asset will be $4,000. In year two, depreciation will be $1,000, accumulated depreciation will be $2,000 ($1,000 from the current year + $1,000 accumulated from previous years) and carrying value will be $3,000. It is continually measured; hence the accumulated depreciation balance is $6,000 at the end of 2012, $12,000 in 2013, $18,000 in 2014, $24,000 in 2015, and $30,000 in 2016. Accumulated depreciation is a contra-asset account. It is presented in the balance sheet as a deduction to the related fixed asset. Depreciation is recorded by debiting Depreciation Expense and crediting Accumulated Depreciation. This is recorded at the end of the period (usually, at the end of every month, quarter, or year). The entry to record the $6,000 depreciation every year would be: The accumulated depreciation account is an asset account with a credit balance (also known as a contra asset account); this means that it appears on the balance sheet as a reduction from the gross amount of fixed assets reported. For example, ABC International buys a machine for $100,000, which it records in the Machinery fixed asset account. ABC estimates that the machine has a useful life of 10 years and will have no salvage value, so it charges $10,000 to depreciation expense per year for 10 years. While depreciation expense is recorded on the income statement of a business, its impact is generally recorded in a separate account and disclosed on the balance sheet as accumulated depreciation, under fixed assets, according to most accounting principles. Suppose a business has an asset with $1,000 original cost, $100 salvage value, and 5 years of useful life. First, the straight-line depreciation rate would be 1/5, i.e. 20% per year. Under the double-declining-balance method, double that rate, i.e. 40% depreciation rate would be used. The only asset involved is equipment that originally cost $500,000 on January 1, 2001. The equipment was expected to have a ten year service life, a salvage value of $50,000 and was depreciated using the double declining method. The change in depreciation method is assumed to be effective as of the beginning of 2004. The value of 5 Depreciation in each period is recorded in the Accumulated Depreciation Account, 6 the contra account of which is Equity Fund-Disposal of Fixed Assets, and is presented 7 as a reduction to the Fixed Assets account.8 Various difficulties can arise in the recording of Depreciation.  Accumulated Depreciation. 100. The accumulated depreciation account is used in accounting so that the recorded cost of the equipment can stay on the books, and the contra-asset account of accumulated depreciation is used so that the depreciation of the equipment can be kept track of year to year. Accumulated Depreciation Balance Sheet. Accumulated depreciation on the balance sheet, and how it relates to depreciation expense is one of the most confusing concepts of accounting to beginners. To make it easier to understand, let’s start with the basics of how depreciation works.
http://www.accountingtools.com/questions-and-answers/what-is-accumulated-depreciation.html http://www.accountingverse.com/accounting-basics/depreciation-expense.html http://www.investopedia.com/terms/a/accumulated-depreciation.asp http://www.accountingverse.com/accounting-basics/depreciation-expense.html http://www.accountingtools.com/questions-and-answers/what-is-accumulated-depreciation.html https://en.wikipedia.org/wiki/Depreciation http://accounting.utep.edu/sglandon/c20/c20a.pdf https://fafaahmad.files.wordpress.com/2008/04/technical-bulletin-05-accounting-for-depreciation.pdf http://www.accounting101.org/accumulated-depreciation-balance-sheet/
is accumulated depreciation required to be presented