Definitions

1. noun

The process of paying off a debt or loan over a period of time through regular payments, or the reduction of an asset’s value over its useful life.

“The company’s accountant worked on the amortisation of the company’s mortgage.”

2. noun

The reduction of an asset’s value over its useful life, especially through depreciation.

“The amortisation of the vehicle resulted in a significant loss for the company.”

3. verb

To reduce the value of an asset over its useful life, especially through depreciation.

“The company amortised the cost of the new equipment over several years.”