You can have fiscal, commercial law (accounting), self defined imputed useful life and a useful life defined by group directives for assets.
Basically useful life is the information about how long an asset is about to be used in the company and factor to calculate depreciation.It can change because of technological advance during life. This changes willl be taken into account for fiscal useful life´s relatively late and imputed ones only get increased a little bit. Useful Life can be stated in years or months and in some rear cases also with decimal places, if for example the calculation is based on a percentage value (e.g. 3 %=33,33).

• Prev
• Next