The chapter discusses two methods of accounting depreciation: Straight Line Depreciation (SLD) and Sum of the Years Digits (SYD). SLD is a simple method, while SYD is an accelerated one with varying depreciation rates each year. Different assets have different lifespans for depreciation, with land not depreciable, buildings lasting 20-60 years, machinery depreciating in five years, and computers in four years. The chapter includes visual representations of SLD and SYD functions.