Recording an Accounting Impairment Loss in Your Business
If one of your company’s fixed assets drastically lost value, you might be able to write off the difference as an impairment loss to save a few bucks. But before you do, complete a few simple calculations to ensure your situation is actually an impairment loss, not just normal depreciation.
Original Article Source Credits: Intuit and QuickBooks,https://quickbooks.intuit.com/ca/
Article Written By Emily Retherford
Original Article Posted on : Not applicable
Link to Original Article: https://quickbooks.intuit.com/ca/resources/profit-loss/record-impairment-loss/