What means obsolescence?
: the process of becoming obsolete or the condition of being nearly obsolete the gradual obsolescence of machinery reduced to obsolescence the planned obsolescence of automobiles.
What is an economic obsolescence?
Economic obsolescence (EO) is the loss of value resulting from external economic factors to an asset or group of assets. EO is often encountered in valuation work performed for financial reporting purposes, bankruptcy emergence and in other practice areas when dealing with companies in capital-intensive industries.
What is curable obsolescence?
Curable obsolescence As the name suggests, curable functional obsolescence refers to any deficiency that can be cured by the property owner. For example, if physical depreciation can be fixed by repairing and renovating the subject property, then the obsolescence would be considered curable.
What does Planned obsolescence mean?
Planned obsolescence is the calculated act of making sure the existing version of a product will become dated or useless within a given time frame.
What is adverse obsolescence?
“Adverse external influences” are structures or entities near a property that negatively affect its value. Appraisers often use the phrase “External Obsolescence” when describing these influences.
What does an over improved property suffer from?
An over-improvement or under-improvement indicates lack of conformity and usually suffers some degree of loss in value.
What are obsolete items?
Obsolete inventory is a term that refers to inventory that is at the end of its product life cycle. This inventory has not been sold or used for a long period of time and is not expected to be sold in the future. This type of inventory has to be written-down or written-off and can cause large losses for a company.
How quickly does the inventory become obsolete?
Inventory could become obsolete in three months to three or more years in the extremes, depending on the industry. Gaining awareness of your inventory movement, as well as checking with your Audit CPA’s is needed to settle on the acceptable definitions for your business.
Whats the opposite of obsolete?
ANTONYMS FOR obsolete 1, 2 new, modern.
What’s the opposite of obsolete?
obsolete. Antonyms: fashionable, modern, current, customary, operative, extant. Synonyms: antiquated, past, effete, disused, archaic, old-fashioned.
What do you call an outdated file?
Digital obsolescence is a situation where a digital resource is no longer readable because of its archaic format. Software: the software needed to access the digital file becomes obsolete.
What is the opposite new?
New is opposed to old, modern to ancient, recent to remote, young to old, aged, etc.
What is poor antonym?
Antonyms: rich people, rich, gilded, sufficient, prosperous, sumptuous, princely, well-off, opulent, grand, plush, deluxe, lavish, lush, easy, flush, good, plushy, moneyed, loaded, luxurious, wealthy, comfortable, well-fixed, well-situated, well-heeled, affluent, lucullan, well-to-do, fortunate. Synonyms: poor people.