Impairment: Difference between revisions
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imported>Doug Williamson m (Spacing 27/8/13) |
imported>Doug Williamson (Update for FRS 102) |
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A reduction in the recoverable amount of a fixed asset or goodwill below its carrying amount. | A reduction in the recoverable amount of a fixed asset or goodwill below its carrying amount. | ||
Relevant accounting standards include Section 27 of FRS 102. | |||
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== See also == | == See also == | ||
* [[Fixed assets]] | * [[Fixed assets]] | ||
* [[FRS | * [[FRS 102]] | ||
* [[Goodwill]] | * [[Goodwill]] | ||
Revision as of 11:01, 6 November 2015
1.
Financial reporting.
A reduction in the recoverable amount of a fixed asset or goodwill below its carrying amount.
Relevant accounting standards include Section 27 of FRS 102.
2.
The related accounting adjustment required to reduce the carrying amount of the asset in the balance sheet - to the new lower recoverable amount - and to recognise an impairment loss.
3.
More generally, any weakening, damage or reduction in value.
