Service Life

From Knowledge base

Definition

Service life means the period of usefulness of a tangible asset (or group of assets) to its current owner. The period may be expressed in units of time or output. The estimated service life of a tangible capital asset (or group of assets) is a current forecast of its service life and is the period over which depreciation cost is to be assigned[1].

Regulations

Cost Accounting Standards 409 - Depreciation of Tangible Capital Assets

Related Pages

CAS 409 - Depreciation of Tangible Capital Assets

References

  1. 9904.409-30 Definitions (2)