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Unformatted text preview: 220000 Impairment loss 220000 A/D 220000 (b) Impairment losses should be reported as a part of continuing operations under other expenses and losses c) future use. (according to GAAP) No recovery of impairments are needed when the fair value is equal or higher to the carrying value of an asset which is intended for (d) They recorded an impairment loss when FV was 280000 but when it rose to 300000 they could not increase the value of the asset as it is intended for future use. The accounting issues here were to establish the fair value of the asset as the fair value is constantly changing....
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- Spring '10
- Economics, Pujol