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Accelerated Cost Recovery System
An accounting technique formerly used in the United States to tax a tangible asset based upon its estimated depreciation. The estimated depreciation bore only a rough relationship to an asset's actual life, and was designed to decrease the taxation in the early years of an asset's ownership. ACRS was instituted by the Economic Recovery Act of 1981 and amended in 1986 to create the Modified Accelerated Cost Recovery System. See also: Absolute Physical Life.
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Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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Accelerated Cost Recovery System (ACRS)
The system of depreciation mainly used for property placed in service after 1980 and before 1987. ACRS is also used for certain property placed in service after 1986 that is acquired from a related party who used the property before 1987. See Modified Accelerated Cost Recovery System (MACRS) for property placed in service after 1986.
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