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An impaired account refers to an account that is considered to have a reduced value due to the likelihood that the borrower will not be able to meet their financial obligations, such as repaying a loan. This impairment may arise from factors like financial difficulties, bankruptcy, or significant changes in the borrower's circumstances. In accounting terms, impaired accounts often require a write-down or provision to reflect the expected losses on the balance sheet. As a result, they can impact an organization's financial health and profitability.
What else can I help you with?
You are impaired when your ability to operate a vehicle is?
Limited or hampered
Can goodwill be depreciated?
Not usually as it isnt a waisting asset. But it can be Impaired.
Is Goodwill a permament account?
Goodwill is classified as a permanent account because it is recorded on the balance sheet and does not close at the end of an accounting period. It represents the excess value paid for an acquired company over its identifiable net assets and remains on the books until it is impaired or the business is sold. Unlike temporary accounts, which reset to zero after each period, goodwill continues to accumulate as long as the entity exists.
What does a credit balance in goodwill account mean?
A credit balance in a goodwill account typically indicates that the goodwill has been impaired or is being amortized, leading to a reduction in its value. This situation may arise when the carrying amount of goodwill exceeds its fair value, reflecting a decline in the expected benefits from the acquired business. In financial reporting, a credit balance in goodwill would require careful evaluation, as it can signal potential issues with the underlying assets or business performance.
Is the drawing account is a temporary account?
Drawings Account is a Temporary Account
What is a sentence for the word impaired?
My brother seems to be morally impaired. The ravages of time may bring impaired hearing.
Abnormal function can also be referred to as what?
Impaired Function
If you are sharing the road with an impaired driver it is safest to be?
in front of the impaired driver
What problems do drunk driving cause?
Drunk drivers account for thousands of deaths and injuries every year because their mental and physical abilities are impaired by alcohol which result in car accidents .
What is impaired blood clotting?
it is a blood clot which is impaired.
What is an impaired driver?
Impaired driving is driving while drunk, drugged, or distracted.
What is a sentence using hearing impaired?
It is important to use clear speech when communicating with someone who is hearing impaired.
Who is the Hearing impaired classical music maestro?
Who is the Hearing impaired classical music maestro
What is the Scientific explanation of Impaired social interaction?
What is the Scientific explanation of Impaired social interaction
What adverse reaction indicates an impaired production of platelets?
Thrombocytopenia: Impaired production of platelets
Who share the road with an impaired driver are at risk.?
who share the road with an impaired driver are at risk
What is impaired parenting?
Impaired parenting is a form of child abuse. Someone practicing impaired parenting neglects their child's needs and fails to support the child emotionally and socially.
