Impairment of Assets
This query is : Resolved
Ashish Aggarwal
(Querist)
08 January 2010
Is impairment of asset an exceptional item. Please give AS reference too.
CA Sidhi Gaur
(Expert)
08 January 2010
as per AS-28 impairment loss arises when book value of an asset exceeds its recoverable amount.it is charged to P&L account and is not an exceptional item.
Ashish Aggarwal
(Querist)
08 January 2010
thanks but in P&L account it is shown as a part of depreciation or a seperate line item
CA Sidhi Gaur
(Expert)
09 January 2010
impairment loss is shown separately in p&l account.
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