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FA means Fixed Asset. What can be the probable entry for this transaction?
Whenever the realisable/recoverable value of an assets is below its carrying value, this condition in accounting language is called impairment. In such case the asset value shall be reduced by the impairment loss, after incorporating the below entry:
Impairment loss Dr
Accumulated impairment loss Cr
The asssets shall be reported in balance sheet at net of any depreciation and impairment loss.
not tue i agree with rashad moursi
Asset can't be carried above the recoverable amount
Not true, FA shuled be reduced by impairment oof loss.