Useful life - Revision history

Doug: Add links.

2024-08-10T05:33:34Z

Add links.

← Older revision		Revision as of 05:33, 10 August 2024
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	* [[IAS 16]] (Tangible assets - Property, plant and equipment)		* [[IAS 16]] (Tangible assets - Property, plant and equipment)
	* [[IAS 38]] (Intangible assets)		* [[IAS 38]] (Intangible assets)
	* [[Intangible]]		* [[Impairment]]
			* [[Intangible assets]]
			* [[International Financial Reporting Standards]] (IFRS)
	* [[Judgement]]		* [[Judgement]]
	* [[Life]]		* [[Life]]

Doug: Add link.

2024-08-10T05:11:41Z

Add link.

← Older revision		Revision as of 05:11, 10 August 2024
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	:(d) Legal or regulatory limits on use (IAS 16, para 56).		:(d) Legal or regulatory limits on use (IAS 16, para 56).


	It is for the management of the reporting company to evaluate these factors and make their determination, subject to audit if the company's accounts are audited.		It is for the management of the reporting company to evaluate these factors and make their determination, subject to audit if the company's accounts are audited.
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	* [[Amortisation]]		* [[Amortisation]]
	* [[Asset management]]		* [[Asset management]]
			* [[Audit]]
	* [[Business]]		* [[Business]]
	* [[Capital management]]		* [[Capital management]]

Doug: Add definition. Source: Linked pages

2024-08-10T05:11:06Z

Add definition. Source: Linked pages

← Older revision		Revision as of 05:11, 10 August 2024
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	''~~Accounting~~''.		1. ''Financial reporting''.

	The length of time an asset is in use.		The length of time an asset is in use.

	The asset should be depreciated over its useful life.		The asset should be depreciated over its useful life.


			Under IFRS, IAS 16, factors relevant to determining a useful life include:

			:(a) Expected usage,

			:(b) Expected wear and tear,

			:(c) Technical or commercial obsolescence,

			:(d) Legal or regulatory limits on use (IAS 16, para 56).

			It is for the management of the reporting company to evaluate these factors and make their determination, subject to audit if the company's accounts are audited.


			Industry norms would certainly be relevant as well.

			Tax rules generally differ from the accounting rules, with the tax rules being much more prescriptive.


			Useful life is also sometimes known as ''useful economic life''.


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	:''IAS 16 - Property, plant and equipment - paragraph 57.''		:''IAS 16 - Property, plant and equipment - paragraph 57.''


			2. ''Treasury - capital management - asset management.''

			Similar concepts in wider economic, business and operational contexts.


	== See also ==		== See also ==
	* [[Accounting]]		* [[Accounting]]
			* [[Amortisation]]
	* [[Asset management]]		* [[Asset management]]
			* [[Business]]
			* [[Capital management]]
	* [[Depreciating asset]]		* [[Depreciating asset]]
	* [[Depreciation]]		* [[Depreciation]]
	* [[Economic life]]		* [[Economic life]]
			* [[Economics]]
	* [[Financial reporting]]		* [[Financial reporting]]
	* [[IAS 16]]		* [[IAS 16]] (Tangible assets - Property, plant and equipment)
			* [[IAS 38]] (Intangible assets)
			* [[Intangible]]
	* [[Judgement]]		* [[Judgement]]
	* [[Life]]		* [[Life]]
			* [[Operations]]
	* [[Property, plant and equipment]]		* [[Property, plant and equipment]]
	* [[Reporting entity]]		* [[Reporting entity]]
	* [[Short life asset]]		* [[Short life asset]]
			* [[Tangible]]
			* [[Tax depreciation]]
			* [[Treasury]]
	* [[Useful economic life]]		* [[Useful economic life]]
	* [[Utility]]		* [[Utility]]

Doug: Layout.

2023-10-29T21:12:37Z

Layout.

← Older revision		Revision as of 21:12, 29 October 2023
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	==Other resource==		==Other resource==
	*[https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2022/issued/part-a/ias-16-property-plant-and-equipment.pdf?bypass=on IAS 16 text]]		*[https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2022/issued/part-a/ias-16-property-plant-and-equipment.pdf?bypass=on IAS 16 text]

	~~[[Category:Accounting,_tax_and_regulation]~~]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]

Doug: Add quote from IAS 16 - https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2022/issued/part-a/ias-16-property-plant-and-equipment.pdf?bypass=on

2023-10-29T21:12:16Z

Add quote from IAS 16 - https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2022/issued/part-a/ias-16-property-plant-and-equipment.pdf?bypass=on

← Older revision		Revision as of 21:12, 29 October 2023
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	* [[Useful economic life]]		* [[Useful economic life]]
	* [[Utility]]		* [[Utility]]


			==Other resource==
			*[https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2022/issued/part-a/ias-16-property-plant-and-equipment.pdf?bypass=on IAS 16 text]]

			[[Category:Accounting,_tax_and_regulation]]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]

Doug: Add quote from IAS 16.

2023-10-29T20:50:35Z

Add quote from IAS 16.

@@ Line 4: / Line 4: @@
 The asset should be depreciated over its useful life.
 == See also ==
 * [[Depreciating asset]]
 * [[Depreciation]]
 * [[Short life asset]]
 [[Category:Accounting,_tax_and_regulation]]

imported>Doug Williamson: Classify page.

2022-06-27T20:11:33Z

Classify page.

← Older revision		Revision as of 20:11, 27 June 2022
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	== See also ==		== See also ==
	* [[Depreciating asset]]		* [[Depreciating asset]]
			* [[Depreciation]]
	* [[Short life asset]]		* [[Short life asset]]

			[[Category:Accounting,_tax_and_regulation]]

imported>Doug Williamson: Add link

2016-08-31T13:21:41Z

Add link

← Older revision		Revision as of 13:21, 31 August 2016
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	== See also ==		== See also ==
	* [[Depreciating asset]]		* [[Depreciating asset]]
			* [[Short life asset]]

imported>Doug Williamson: Spacing 14/81/3

2013-08-14T10:52:40Z

Spacing 14/81/3

← Older revision		Revision as of 10:52, 14 August 2013
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	''Accounting''.		''Accounting''.
	The length of time an asset is in use. The asset should be depreciated over its useful life.
			The length of time an asset is in use.

			The asset should be depreciated over its useful life.


	== See also ==		== See also ==
	* [[Depreciating asset]]		* [[Depreciating asset]]

imported>Administrator: CSV import

2012-10-23T14:20:58Z

CSV import

New page

''Accounting''.
The length of time an asset is in use. The asset should be depreciated over its useful life.

== See also ==
* [[Depreciating asset]]