asset impairment

Definition

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.

Use asset impairment in a sentence

You should try to make sure that you follow any asset impairment and look for a way to improve on it.

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If you find your self facing an asset impairment you will need to hope to get the most you can for it.

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There was a lot of asset impairment that went on and we were really shocked to figure it out because we thought everything was fine.

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asset for asset swap asset impairment accounting