Unformatted text preview: Impairment of Tangible Assets - Impairment of assets to be disposed of: — Step 1: Reooverability test—if undiscounted expected
cash flow < book value, impairment exists — Step 2: Impairment loss = book value — (fair value
less the cost to sell) - Assets held for resale can be written up
following an impairment loss only to the net book
value at the time of the impairment ...
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- Fall '07
- Financial Accounting