IMPAIRMENT OF VALUE Definition

Bookmark and Share

IMPAIRMENT OF VALUE is the permanent decline in the value of an asset. The entry is to debit the loss account and credit the asset for the loss in utility. See also FRS 11.

Learn new Accounting Terms

ACCOUNTS PAYABLE (AP) are trade accounts of businesses representing obligations to pay for goods and service received.

CUSTODIAN BANK is the bank that acts a custodian to a mutual fund. Does not manage anything, just holds the cash and securities and does the clerical.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.