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Impairment

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Definition overview

1 Definition

The decline in future economic benefit or service potential of an Asset, over and above the use reflected through depreciation. An Asset is impaired when its Recoverable Amount is less than its Carrying Amount.

2 References

UniSQ Defined.

3 Definition Information

Approved Date

28/5/2015

Effective Date

28/5/2015

Record No

15/1587PL

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