Journal of Korean Society of Industrial and Systems Engineering (산업경영시스템학회지)

Society of Korea Industrial and System Engineering (한국산업경영시스템학회)
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A Study on the Estimation Depreciation Rate on Petrochemical Equipments

석유화학 제조설비의 경제적 감가상각률 산정

  • Oh, Hyun-Seung (Department of Industrial Engineering and Management, Hannam University) ;
  • Kim, Chong-Su (Department of Industrial Engineering and Management, Hannam University) ;
  • Lee, Hahn-Kyou (Department of Industrial Engineering and Management, Hannam University) ;
  • Cho, Jin-Hyung (Department of Industrial Engineering, Kumoh Institute of Technology)
  • 오현승 (한남대학교 산업경영공학과) ;
  • 김종수 (한남대학교 산업경영공학과) ;
  • 이한교 (한남대학교 산업경영공학과) ;
  • 조진형 (금오공과대학교 산업시스템공학과)
  • Published : 2009.03.31
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Abstract

Estimation of mortality behavior of a industrial property are useful for calculating depreciation and making management decisions relating to property. The common methods of computing depreciation require an estimation of service life, and some methods may require an estimate of life expectancy. Estimation of service life and life expectancy can be computed from a smoothed and extended life table of original life tables developed through life analysis techniques. Several actuarial techniques are available to construct a life table for depreciation application. Of these methods, the graphic approach and graduation by mathematical formula are the most widely used in the field of depreciation. A commonly used technique of smoothing and of extending the life table is to fit a lows type survivor curves to the observed retirement rate by the least square method. In this paper, estimates of depreciation rate based on directly observed data of the domestic petrochemical equipments are presented.

Keywords

References

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