Impairment of Fixed Assets – What is Impairment?

Описание к видео Impairment of Fixed Assets – What is Impairment?

Impairment is used to denote a significant reduction in the fair value of an asset below the carrying amount. Carrying amount means the amount which is recorded on the company’s Balance Sheet. Impairment can happen due to various reasons like damage, obsolescence, change in economic or legal factors affecting business etc.

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