Impairment: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Layout.) |
imported>Doug Williamson (Add link.) |
||
| Line 23: | Line 23: | ||
* [[Goodwill]] | * [[Goodwill]] | ||
* [[IAS 36]] | * [[IAS 36]] | ||
* [[Impaired loan]] | |||
Revision as of 15:28, 30 October 2016
1.
Financial reporting.
A reduction in the recoverable amount of a fixed asset or goodwill below its carrying amount.
Relevant accounting standards include IAS 36 and 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.
