CFLib.org – getDepreciatedValue

getDepreciatedValue(acq_cost, act_date, numberOfYears)

Last updated June 4, 2008

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author

Steve Walker
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Version: 1 | Requires: ColdFusion MX | Library: FinancialLib

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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>