asset cost recovery system

asset cost recovery system (ACRS)

See accelerated cost recovery system, which is the correct name for an outdated tax accounting methodology abbreviated as ACRS. Unfortunately, one often encounters this method erroneously described as “asset cost recovery system.”
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
However, the IRS looks more closely at a business choosing alternative depreciation methods, even straight-line depreciation for newly-acquired property, rather than using the no-questions-asked modified asset cost recovery system.