impairment definition
A decrease in the value of a long term asset to an amount that is less than the amount shown under the cost principle.
A decrease in the value of a long term asset to an amount that is less than the amount shown under the cost principle.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.