• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March and June 2025 exams.
Get your discount code >>

Useful life assumption

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Useful life assumption

  • This topic has 1 reply, 2 voices, and was last updated 13 years ago by Vipin .
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • July 31, 2011 at 4:56 pm #49381
    darrenbotes
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    Hi All

    As I do practice examples for F3, I have come across this issue of useful life assumption a couple of times.

    The question will state that the NCA (usually land) has been revalued to a higher amount, it states the depreciation percentage and finally, it says that there is no change to the useful life after the revaluation.
    I understand all of the above no problem, but after fighting with this question for a while and then getting the wrong answer, I discover that the useful life was originally 50 years! I didn’t see 50 years in the question…
    I have come across this type of question a couple of times.

    For exam purposes, do we automatically assume a useful life of 50 years if it is not mentioned in the question??

    November 13, 2011 at 6:16 am #86196
    Vipin
    Member
    • Topics: 151
    • Replies: 374
    • ☆☆☆☆

    if depreciation percentage is 1% then useful life is 100 years.
    and if 2% then useful life is 50 years.
    and if 4% then useful life is 25 years.
    and if 10% then useful life is 10 years.
    and so on.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • azubair on PM Chapter 15 Questions Financial Performance Measurement
  • Dileena on Sources of finance – Islamic Finance – ACCA (AFM) lectures
  • amaanalli on Governance – ACCA Strategic Business Leader (SBL)
  • nabeelafatima on Using Information Systems – ACCA Performance Management (PM)
  • John Moffat on Irrecoverable Debts and Allowances Example 3 – ACCA Financial Accounting (FA) lectures

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in