useful life

(redirected from usable life)
Also found in: Encyclopedia.

Useful life

The expected period of time during which a depreciating asset will be productive.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Useful Life

The amount of time, as determined by the IRS, that an asset is expected to be used. The useful life is important in determining taxes assessed on the depreciated value of the asset each year. Theoretically, an asset's useful life is equal to its absolute physical life, but, because the useful life is an estimation, this is not always the case.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

useful life

(1) In accounting and taxation,the time period over which an asset is depreciated.(2) In appraisal,the time period during which one can expect a positive cash flow from a property.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
"Exposure to the elements" and "constant buffeting" have left the pier in poor overall condition - with only 10 to 15 years of usable life left in it.
The following projects are planned at the Central campus: A longer lasting, lighter and more energy efficient metal roof will replace the current asphalt shingles which have reached the end of their usable life and must be replaced when leaks occur.
USAble Life has selected VUE Software to overhaul its onboarding and compliance system.
This product will seriously increase the usable life of cars dealing with road salts and other corrosion problems."
Yes, it's a little more work for a consumer, but more of the materials that still have a usable life get the place they were meant to go.
The slightest exposure to humidity can cause a series of problems that significantly decrease a product's usable life. The AQUATRAN Model 3 offers an easy-to-use interface, and puts the testing capability into the hands of a wider user base.
The database presents a cost range as well as an estimate of the length in years of the element's usable life.
This provides twice the damage protection compared to single-leg pallets, and extends its usable life. The pallet is manufactured from 100% recyclable, FDA-approved materials.
The sensor with the Kr-85 source is designed to measure basis weight of very thin film while providing approximately five times the usable life of comparable sensors.
The hospital upgraded the lighting in its emergency room parking lot because the existing system was inadequate and reaching the end of its usable life. For more details about this project, see Case Study #2 on page 45.
Oxidation may shorten the usable life of the oil, which may be reused until health regulations or quality problems dictate discarding it.
Global Heat Transfer focuses on the lifecycle management of its client's thermal fluids from the procurement and delivery of highly efficient fluids to the on-going management to extend the usable life of the fluid as far as possible, right through to their latter years when they need to be disposed of in an appropriate manner.