Impaired asset

Impaired asset is an accounting term referring to an asset that has a market value lower than the value recorded on its owner’s balance sheet. Impairment is an essential accounting practice to ensure that assets are not overvalued on the financial statements, providing a realistic view of a company’s asset value.

 References 

 Other websites 
 Official site of the Financial Accounting Standards Board
 Official site of the International Financial Reporting Standards

Category:Accounting