Im not an accountant. It seems that a lease, contract or any negotiated document terms are a result of the final agreement between both parties. Renewing a lease is still agreement of terms and should be clearly stated at time of renewal. If you wish to add additional terms at renewal that were not present in the original agreement I think you would need to add these terms upon renewal. In other words if your original agreement stated a length of time for leasehold improvements I believe you would have to write new dates to extend those terms. If your not certain then it's a grey area that needs to be clarified
Why are you posting on an accounting forum if you are not an accountant? Your response has nothing to do with my question. I'm asking about the useful lives of fixed assets, mainly Leasehold Improvements. Can anyone else chime in please?