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Impairment of asset

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)

05 September 2012

Friends

Can any one of You give an example about impairment of asset, ie, how the AS on impairment of asset is applied.

Regards,

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4 Replies

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
Replied 12 September 2012

Friends/Experts

Any thoughts please.

Regards,

sandeep (student) (188 Points)
Replied 12 September 2012

Impairment of assets means decrease in value of assets due to sudden decrease i value which depreciation does not show. impairment of assets is only done when certain condition are satisfied

Bhaskar Unnikrishnan CPA CMA (Accounts / Administration) (414 Points)
Replied 12 September 2012

Attached file is the extract of ACCA Study Book for IAS 36 (based on IFRS) which gives easy and helpful insigt to the subject. (the priciples would be same to IndAS as well).

Attached File : 635703 1053719 ias 36 impairment of asset.pdf downloaded: 135 times

CA Kedar Sakhardande (Proprietor) (942 Points)
Replied 15 September 2012

Hi impairment is other than temporary reduction in value of asset it is calculated by discounting the projected inflows and if the discounted [rojected inflows are less than the carrying cost of the asset, impairment loss is provided regards