CPAnet Forum: Impairment loss

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shahak
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Regular

Joined: 12 Jul 2009
Online Status: Offline
Posts: 115

Posted: 03 Apr 2010 at 17:18 \| IP Logged

Can someone please explain me Impairment loss in simple words? Thanks!

caixinran
Regular
Regular

Joined: 10 Jun 2009
Online Status: Offline
Posts: 159

Posted: 04 Apr 2010 at 16:00 \| IP Logged

A special, nonrecurring charge taken to write down an asset
with an overstated book value. Generally an asset is
considered to be value-impaired when its book value
exceeds the future net cash flows expected to be received
from its use. An impairment write-down reduces an
overstated book value to fair value.

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