Life of the asset and the residual value

are there links between the life of the asset and the residual value?

When assessing the life of an asset, firstly, we are using the historical cost of the asset; secondly, the life is only an estimate, thirdly, estimates are made as to the residual, disposal or s value of the asset; and, finally, assets differ in the nature of their use. The residual value is what the business expects to get from the asset when it is disposed of, for example, traded in.

What is the life of a asset?

What is the difference between residual value, salvage value, and s value?

Life of the assets and the residual value is the estimated amount of time that the asset will be used by the organisation or company for economic purpose and some times it's referred to as or called service life. And residual value which is some times called salvage value is an estimated amount the asset can be done with or sold for at the end of its useful life.

Critically distinguish between useful life and residual value ?

What are balance day adjustments?

What are balance day adjustments?

What are some unique balance day adjustments?

residual value to me are the costs that are not advertised or hidden cost.