What are the 5 major methods of providing depreciation in accounting?

The five major methods of providing depreciation in accounting are straight-line depreciation, declining balance depreciation, units of production depreciation, sum-of-the-years'-digits depreciation, and modified accelerated cost recovery system (MACRS). Straight-line depreciation spreads the cost evenly over the asset's useful life, while declining balance methods accelerate depreciation in the earlier years. Units of production ties depreciation to actual usage, while sum-of-the-years'-digits also front-loads depreciation based on a fraction of the asset's remaining life. MACRS is a tax-focused method commonly used in the U.S. for accelerated depreciation.