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Discuss how does the information on useful lives of property, plant and equipment of the companies...

Discuss how does the information on useful lives of property, plant and equipment of the companies meet the needs of the users of financial information.

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Answer #1

Useful life of property, plant and equipment means for how many year the such assets can be used by the comapny . Useful life of the company varies from the physical life of the compnay.

Information on useful life of property, plant and equipment helps to ascertain the users of financial information that depreciation is correctly charged by the company, helps to ascetain when next Asset will be purchased and helps to determine the finance need to purchase the asset

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