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What is AS-28: Impairment of Assets Explained about?

This document provides an overview of AS-28 regarding impairment of assets. It defines impairment as when the carrying amount of an asset exceeds its recoverable amount. The carrying amount is the amount at which the asset is shown in the balance sheet (cost less depreciation/amortization and impairment losses). An impairment loss is calculated as the recoverable amount minus the carrying amount. Impairment losses must be recognized for individual assets or cash-generating units. The standard also provides

Author

Harsh Patel

Language

EN