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Depreciation in Vitruvius

Tracey Rihll

Classical Quarterly, Volume: 63, Issue: 2, Pages: 893 - 897

Swansea University Author: Tracey Rihll

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DOI (Published version): 10.1017/S0009838813000384

Abstract

A passage in Vitruvius De architectura demonstrates clear understanding of what we call ‘depreciation’ or ‘amortization’ in ancient Roman thought. It appears to have been overlooked to date. Depreciation is an economic concept of some sophistication, and its presence in late Republic Rome is signifi...

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Published in: Classical Quarterly
ISSN: 0009-8388
Published: 2013
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URI: https://cronfa.swan.ac.uk/Record/cronfa15132
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first_indexed 2013-07-23T12:13:53Z
last_indexed 2018-02-09T04:46:52Z
id cronfa15132
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spelling 2014-01-21T15:00:04.7019327 v2 15132 2013-06-25 Depreciation in Vitruvius 1bc10e170e481442b544ff38c33c5092 Tracey Rihll Tracey Rihll true false 2013-06-25 ACLA A passage in Vitruvius De architectura demonstrates clear understanding of what we call ‘depreciation’ or ‘amortization’ in ancient Roman thought. It appears to have been overlooked to date. Depreciation is an economic concept of some sophistication, and its presence in late Republic Rome is significant for any discussion of economic and moral values at that important time in ancient history. The next surviving reference to depreciation in historical sources known to me was written by Robert Loder in 1612, about sixteen centuries later, and it reveals a simpler understanding of the concept than that preserved in Vitruvius. American accountants did not get interested in the concept until the 1830s, when large capital investments were being made in the railway industry and stockholders required their business managers to account for the assets. As late as 1912, depreciation still received little or no systematic attention. As a verbal formula, Vitruvius reports that the current value of the asset = the original cost less the depreciation to date, where the depreciation to date is a fraction * the original cost * the age. Journal Article Classical Quarterly 63 2 893 897 0009-8388 Economic history, depreciation, Roman history, Vitruvius 31 12 2013 2013-12-31 10.1017/S0009838813000384 COLLEGE NANME Classics COLLEGE CODE ACLA Swansea University 2014-01-21T15:00:04.7019327 2013-06-25T12:32:35.6145502 Faculty of Humanities and Social Sciences School of Culture and Communication - Classics, Ancient History, Egyptology Tracey Rihll 1
title Depreciation in Vitruvius
spellingShingle Depreciation in Vitruvius
Tracey Rihll
title_short Depreciation in Vitruvius
title_full Depreciation in Vitruvius
title_fullStr Depreciation in Vitruvius
title_full_unstemmed Depreciation in Vitruvius
title_sort Depreciation in Vitruvius
author_id_str_mv 1bc10e170e481442b544ff38c33c5092
author_id_fullname_str_mv 1bc10e170e481442b544ff38c33c5092_***_Tracey Rihll
author Tracey Rihll
author2 Tracey Rihll
format Journal article
container_title Classical Quarterly
container_volume 63
container_issue 2
container_start_page 893
publishDate 2013
institution Swansea University
issn 0009-8388
doi_str_mv 10.1017/S0009838813000384
college_str Faculty of Humanities and Social Sciences
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hierarchy_top_title Faculty of Humanities and Social Sciences
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hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Culture and Communication - Classics, Ancient History, Egyptology{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Culture and Communication - Classics, Ancient History, Egyptology
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description A passage in Vitruvius De architectura demonstrates clear understanding of what we call ‘depreciation’ or ‘amortization’ in ancient Roman thought. It appears to have been overlooked to date. Depreciation is an economic concept of some sophistication, and its presence in late Republic Rome is significant for any discussion of economic and moral values at that important time in ancient history. The next surviving reference to depreciation in historical sources known to me was written by Robert Loder in 1612, about sixteen centuries later, and it reveals a simpler understanding of the concept than that preserved in Vitruvius. American accountants did not get interested in the concept until the 1830s, when large capital investments were being made in the railway industry and stockholders required their business managers to account for the assets. As late as 1912, depreciation still received little or no systematic attention. As a verbal formula, Vitruvius reports that the current value of the asset = the original cost less the depreciation to date, where the depreciation to date is a fraction * the original cost * the age.
published_date 2013-12-31T03:17:15Z
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