How will you calculate impairment of assets of a software
company?what is the necessary steps briefly describe?
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Answer / Rajnath Kumar
["Impairment of assets is the reduction in the carrying value of an asset to its recoverable amount, if the carrying amount exceeds its recoverable amount.nnThe following steps can be used to calculate impairment of assets for a software company:
1. Identify the assets to be tested for impairment (such as goodwill, intangible assets, and property, plant, and equipment).
2. Estimate the recoverable amount of each asset using the value-in-use approach or the cost approach.
3. Compare the carrying value of each asset with its recoverable amount. If the carrying value exceeds the recoverable amount, an impairment loss must be recognized."]
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