Every Asset in sap is known as an Asset Class (Ex: Land).
Asset classes are the most important means of structuring fixed assets. You can define an unlimited number of asset classes in the system. You use the asset classes to structure your assets according to the requirements of your enterprise. Asset classes apply in all company codes. The asset class catalog, therefore, is relevant in all company codes in a client. The preceding is also true when the company codes have different charts of depreciation and therefore different depreciation areas.
Depreciation Area = Depreciation method + depreciation key
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