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Accounting for a Fixed Asset’s Impairment Loss. Are you at a loss as to whether you have a loss?
Nancy Faussett
The concept of impairments is only used for financial reporting purposes and never for tax. For tax purposes, an asset is either depreciable or not. It is a different story under GAAP (Generally Accepted Accounting Prnciples), however. Under both…
over 9 years ago
Sage Fixed Assets
Sage Fixed Assets Support and Insights