Impairment

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

USQ Defined.

3 Definition Information

Approved Date

28/5/2015

Effective Date

28/5/2015

Record No

15/1587PL

Complying with the law and observing Policy and Procedure is a condition of working and/or studying at the University.

* This file is available in Portable Document Format (PDF) which requires the use of Adobe Acrobat Reader. A free copy of Acrobat Reader may be obtained from Adobe. Users who are unable to access information in PDF should email policy@usq.edu.au to obtain this information in an alternative format.