Finance, Real Estate, and Business Law
A redefining of the underlying concept of "useful life" in the depreciation and costing is a result of the changes driven by advancements in the application of technology emerging from the Cloud Computing and data storage environment. Cloud Computing has found success in being an integral structural improvement used in business to improve efficiency and effectiveness as well as to manage costs. Data Storage has proven an equally successful tool in managing the expanding data captured and used in data analytics by companies. Beyond these influences a new approach to existing accounting methods can become a fundamental change which will lead to improved actions in decision making and external reporting for financial and taxation purposes.
Journal of Accounting and Finance
Magruder, J. S.,
Mitchell, D. S.,
Burks, E. J.
(2018). Redefining 'Useful Life'--An Energy Consumption Method Emerges from the CC/DS Environment. Journal of Accounting and Finance, 18(5), 105-112.
Available at: https://aquila.usm.edu/fac_pubs/15897