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FRS 11 sets out the principles and methodology for accounting for impairments of fixed assets and goodwill. It replaces the previous approach whereby diminutions in value were recognized only if they were regarded as permanent. Instead, the carrying amount of an asset is compared with its recoverable amount and, if the carrying amount is higher, the asset is written down.
CURRENT COUPON is the the coupon for a recently issued bond that reflects the prevailing level of interest rates, with the result that the bond is priced at or close to par value.
PRICE CEILING is a government-imposed limit on how high a price can be charged on a product.
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