Depreciation and impairment are just the same, arent they? Its just that with depreciation it goes through
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Question:
‘Depreciation and impairment are just the same, aren’t they? It’s just that with depreciation it goes through every year and impairment goes through when necessary. Isn’t the accounting the same, with the expense going to the Income Statement?’
Required: Critically discuss this statement.
Expert Answer:
Impairment is unexpected damage Depreciation is expected wear and tear Unlike impairment which accou... View the full answer
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