Year: 2017
Type: article
Abstract: The objective of this study is to examine and compare the accounting and financial reporting of fixed assets impairment from the perspective of the National Accounting Standards and the International Financial Reporting Standards. In this respect, initially we exposed the provisions of NAS "Impairment of Assets" referring to fixed assets in view of the most important steps in the accounting cycle - recognition, measurement, recording and presentation in the financial statements. Then these steps and their presence were followed and reviewed based on the terms of IAS 36 "Impairment of Assets" regarding fixed assets, identifying the similarities and discrepancies. Keywords: accounting, impairment loss, the carrying amount, the fair value less costs to sell recoverable value, use value.
Authors: Lilia Grigoroi, Liliana Lazari, Nicolae Balteș
Language: Romanian
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W2949570251