What is meant by useful life of non current asset?

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The useful Life of an Asset is either the period over which a depreciable asset is expected to be used. OR the number of production/similar unit expected to be obtained from the Asset by the enterprise/company.

USEFUL LIFE OF ASSET IAS 16

Author: amidu edson

I am certified accountant with more than 5 years of teaching experience. Currently am teaching auditing and assurance, management accounting and financial accounting for student preparing for professional exams such as ACCA and CPA.