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getDepreciatedValue(acq_cost, act_date, numberOfYears)

Last updated June 4, 2008

author

Steve Walker

Version: 1 | Requires: CF6 | Library: FinancialLib

Description:
This function outputs the current value of an item based on straight line depreciation.

Return Values:
Returns a number.

Example:

<cfoutput>
Current Value as of Today: #LSCurrencyFormat((getDepreciatedValue(125000,'9/1/2006', 8)))#
</cfoutput>

Parameters:

Name Description Required
acq_cost Cost of item. Yes
act_date Date item acquired. Yes
numberOfYears Number of years to depreciate the item. Yes

Full UDF Source:

<!---
 This function outputs the current value of an item based on straight line depreciation.
 
 @param acq_cost 	 Cost of item. (Required)
 @param act_date 	 Date item acquired. (Required)
 @param numberOfYears 	 Number of years to depreciate the item. (Required)
 @return Returns a number. 
 @author Steve Walker (sneakyllama@gmail.com) 
 @version 1, June 4, 2008 
--->
<cffunction name="getDepreciatedValue" output="no" returntype="numeric" hint="Calculates the current straight line depreciated value">
	<cfargument name="acq_cost" required="yes" type="numeric" hint="The acquistion cost or value of an item">
	<cfargument name="acq_date" type="date" required="yes" hint="the acquisition date of the item">
	<cfargument name="numberofYears" type="numeric" default="5" required="yes" hint="the number of years to depreciate the item.">
	<cfset var DV = "">
	<cfset var cost = arguments.acq_cost>
	<cfset var days = arguments.numberofYears * 365>
	<cfset var age = dateDiff('d', DateFormat(arguments.acq_date,'mm/dd/yyyy'), DateFormat(Now(),'mm/dd/yyyy'))>
	
	<cfif age gte days>
		<cfset age = days>
	</cfif>
	
	<cfset DV = (cost*((age/days)-1)*-1)>
	
	<cfreturn DV>
</cffunction>
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