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The asset life span is referred to as how long you will be going to use this asset

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In accounting what is the life expectancy of a plant asset?

In accounting, the life expectancy of a plant asset, also known as its useful life, is the period over which the asset is expected to be used in operations. This duration can vary based on factors like the asset's type, industry standards, and maintenance practices. Companies typically estimate the useful life to determine depreciation, which allocates the asset's cost over its expected lifespan. Generally, useful lives for plant assets can range from a few years to several decades, depending on the asset's nature and application.


What is meant by the term fixed asset depreciation?

The depreciation to fixed asset ratio measures how diligently the company is replacing its old fixed assets with replacements. Companies will acquire fixed assets such as new buildings or machinery with hopes of gaining sales over the lifespan of those assets.


Is livestock in case of mixed farming fixed asset or current asset or wasting asset or tangible asset?

Tangible asset


Is cash vault a financial asset or a real asset?

real asset real asset


Is cash float an asset or income?

asset


What is the formula for equity method?

dEBIT COST AS AN ASSET DEBIT EARNINGS IN ASSET CREDIT DIVIDENDS RECD IN ASSET dEBIT COST AS AN ASSET DEBIT EARNINGS IN ASSET CREDIT DIVIDENDS RECD IN ASSET dEBIT COST AS AN ASSET DEBIT EARNINGS IN ASSET CREDIT DIVIDENDS RECD IN ASSET


What is Asset Reconciliation?

Asset Reconcilation means reconcilation of asset, verifying the asset with the available cash.


Is a desk a fixed asset or a current asset?

A fixed asset.


Is cafe a current asset or fixed asset?

Current asset.


How do you calculate appreciation using Excel?

Instructions1 Do your homework. To calculate the fixed-declining depreciation of an asset, you will need to know the cost of the asset, its lifespan, its value at the end of its lifespan (sometimes called salvage) and the period of time over which you need to find the depreciation.2 Build your Excel spreadsheet. In cell A1, enter the title "Original Cost" and in cell B1 enter that cost. In cell A2, enter the title "Salvage" and in cell B2 enter that amount.3 Enter the heading "Life" in cell A3 and in cell B3 enter the predicted lifespan of the asset in years. Enter the heading "Months" in cell A4 and enter the number 12 in cell B4 since there are 12 months in a year.4 Click on cell A7 and enter the heading "Period", and in cell B7, enter the heading "Depreciation." In the cells below A7 (A8 through however many you need), enter the numbers for one of the years over which you are finding the fixed-declining depreciation. You will need one row per year.5 Key in the following formula: [=DB(B1,B2,B3,B7,B4)]. Then you can hit the enter key on your keyboard and let Excel do its work.6 Understand the formula so you can use it again: =DB tells the computer to calculate an asset's fixed-declining depreciation. B1 is the asset's original cost, B2 is the salvage amount, B3 is the lifespan of the asset, B7 is the number of the year of depreciation you are calculating and B4 is the number of months in the year.


Is asset or liability?

asset


Is cash a financial asset or a real asset?

financial-current asset