The depreciation life of fixed assets can generally be determined according to specific circumstances, but it is necessary to pay attention to the minimum life regulations: Unless otherwise specified by the finance and taxation authorities of the State Council, the minimum life span for calculating depreciation of fixed assets is as follows:
(1) 20 years for houses and buildings;
(2) 10 years for airplanes, trains, ships, machines, machinery and other production equipment;
(3) Appliances, tools, furniture, etc. related to production and business activities, 5 years;
(4) Transportation tools other than airplanes, trains, and ships, 4 years;
(5) Electronic equipment, for 3 years.
Generally speaking, the amortization of intangible assets is specifically recognized in accordance with the relevant provisions of standards or accounting systems. Certain intangible assets are acquired from contractual rights or other legal rights, and their useful life should not exceed the period of the contractual rights or other legal rights. However, if the expected period of use of the assets by the enterprise is shorter than the contractual rights or other legal rights, , the service life should be determined according to the period of expected use of the enterprise.