Under IFRS, when depreciating an asset, do managers have to estimate the useful life and salvage value

Question:

Under IFRS, when depreciating an asset, do managers have to estimate the useful life and for all components of the asset? Explain.
Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...