Assertion: asset's life | /r/HasProperty | useful
Facets:
value: indefinite
type: OTHER
Source sentences:
text: The most common depreciation method is known as straight-line depreciation , which is the initial cost of an asset divided by its useful life.
text: The assets must be similar in nature and have approximately the same useful lives.
text: Depreciation is the cost of an asset spread out over its useful life.
text: An asset may be depreciated over time, so that its recorded cost gradually declines over its useful life.
text: Once the asset has reached the end of its useful life, the last phase is asset retirement and disposal.
text: Depreciation is a process of deducting the cost of an asset over its useful life.
text: Asset disposal is the act of selling an asset usually a long term asset that has been depreciated over its useful life like production equipment.
text: However, since depreciation is an expense to the P&L account, provided the enterprise is operating in a manner that covers its expenses (e.g. operating at a profit) depreciation is a source of cash in a statement of cash flows, which generally offsets the cash cost of acquiring new assets required to continue operations when existing assets reach the end of their useful lives.
text: Except for land, the fixed assets are depreciated over their useful lives.
text: Fixed assets have a useful life assigned to them, which means they have a set number of years the assets will have economic value to the company.
text: The straight-line method assumes that a fixed asset loses its value in proportion to its useful life, while the accelerated method assumes that the asset loses its value faster in its first years of use.
text: Instead, simply depreciate the entire cost of the fixed asset over its useful life.
text: Meanwhile, fixed assets undergo depreciation, which divides the cost of fixed assets, expensing them over their useful lives.
text: An intangible asset is a non-physical asset having a useful life greater than one year.
text: Intangible assets have either an identifiable or an indefinite useful life.
text: Tangible or physical business assets are depreciated, while intangible business assets are amortized, the process of spreading the cost of an intangible asset over the course of its useful life.
text: This depreciation or amortization may be accelerated if use of the asset is expected to occur primarily in the earlier stages of its useful life, though such acceleration can also be used to defer tax payments.
text: Long-term fixed assets must be depreciated over their useful lives with the accumulated depreciation reported on the front of the balance sheet.
text: Long-term fixed assets must be depreciated over their useful lives with the accumulated depreciation reported on the front of the balance sheet.
text: Since noncurrent assets have a useful life for a very long time, companies spread their costs over several years.
text: Plant assets (other than land) are depreciated over their useful lives and each year's depreciation is credited to a contra asset account Accumulated Depreciation.
text: Plant assets are recorded at their cost and depreciation expense is recorded during their useful lives.
text: Like amortization, depreciation is an accounting method where the cost of a tangible asset is likewise spread out over the course of its useful life.