The Modified Accelerated Cost Recovery System (MACRS), which is part of the U.S. federal income tax laws, may also be used for financial reporting.

Name: The Modified Accelerated Cost Recovery System (MACRS), which is part of the U.S. federal income tax laws, may also be used for financial reporting.
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MACRS is used for tax purposes to accelerate depreciation, but financial reporting typically uses methods like straight-line depreciation for consistency and comparability.

The Modified Accelerated Cost Recovery System (MACRS), Which Is Part