Why should I choose AnalystNotes?
Simply put: AnalystNotes offers the best value and the best product available to help you pass your exams.
Basic Question 1 of 15
Under U.S. GAAP, if the fair value of an impaired long-term asset is not readily determinable, it should be shown on the balance sheet at historical cost less accumulated depreciation. True or False?
User Contributed Comments 3
| User | Comment |
|---|---|
| kalps | Ok, if FV of LT asset is not readily determinable then it should shown on the balance sheet as the discounted expected future net operating cash flows |
| ehc0791 | If you come up some number, that means you determine the value which is conflic with "Not dterminable" |
| cong | If the fair value of an impaired long-term asset is not readily determinable, it should be shown on the B/S on a discount basis. |
You have a wonderful website and definitely should take some credit for your members' outstanding grades.
Colin Sampaleanu
Learning Outcome Statements
explain and evaluate how impairment and derecognition of property, plant, and equipment and intangible assets affect the financial statements and ratios
CFA® 2025 Level I Curriculum, Volume 2, Module 7.