NZIAS is New Zealand International Accounting Standards.
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.
ACCOUNT DISTRIBUTION is the process by which debits and credits are identified to the correct accounts.
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