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(Querist)
22 November 2013 hi..
can anyone plz ans that in what way Impairement of asset is different from Depreciation of asset??
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CMA. CS. CA (Final)Santosh Jha

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CMA. CS. CA (Final)Santosh Jha (Expert)
22 November 2013 yes both are different
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CA Shikha Tripathi

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CA Shikha Tripathi (Querist)
22 November 2013 thanx sir.. but my ques is dat how it is differen? plz elaborate..
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Ki$hor B

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Ki$hor B (Expert)
22 November 2013 Depreciation is similar to creating a reserve for replacing the asset.

Impairment refers to the reduction in the value of the asset.
For instance, the production capacity of a machine has been reduced due to fire or irregular maintenance then one could say the asset is impaired.

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CA Shikha Tripathi

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CA Shikha Tripathi (Querist)
22 November 2013 Thanx Kishor..
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