Concept
Version 7
Created by Boundless
Impairment Recognition
![The impairment of an asset reduces its value on the balance sheet.](../../../../../../../../../figures.boundless-cdn.com/10871/full/lding-in-sarajevo-2c-1996.jpeg)
The impairment of an asset reduces its value on the balance sheet.
The cost of an impaired building beyond repair is disclosed as a loss on the income statement.
Source
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"Damaged government building in Sarajevo, 1996."
http://commons.wikimedia.org/wiki/File:Damaged_government_building_in_Sarajevo,_1996.JPEG
Wikimedia
Public domain.