An unexpected or sudden decline in the service utility of a capital asset, such as a factory, property or vehicle. This could be the result of physical damage to the asset, obsolescence due to technological innovation, or changes to the legal code. Impairments can be written off.
Related information about asset impairment:
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Investopedia's Free CFA Level 1 Exam Online Study Guide. Learn how an asset becomes impaired and the consequences of declaring it as such. Includes ...
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The state in which an asset has a market value less than its value listed on the company's records, especially when the value is unlikely to recover. The cash ...
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Nov 21, 2012 ... Considering asset impairment can be a difficult process for a company or business. Many factors contribute to asset impairment, in which a ...