As-28
This query is : Resolved
CA Shikha Tripathi
(Querist)
22 November 2013
hi..
can anyone plz ans that in what way Impairement of asset is different from Depreciation of asset??
can anyone plz ans that in what way Impairement of asset is different from Depreciation of asset??
22 November 2013
yes both are different
CA Shikha Tripathi
(Querist)
22 November 2013
thanx sir.. but my ques is dat how it is differen? plz elaborate..
22 November 2013
Depreciation is similar to creating a reserve for replacing the asset.
Impairment refers to the reduction in the value of the asset.
For instance, the production capacity of a machine has been reduced due to fire or irregular maintenance then one could say the asset is impaired.
Impairment refers to the reduction in the value of the asset.
For instance, the production capacity of a machine has been reduced due to fire or irregular maintenance then one could say the asset is impaired.
CA Shikha Tripathi
(Querist)
22 November 2013
Thanx Kishor..
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