In the year of impairment
Go to the the fixed asset which has incurred an impairment loss.Enter the impairment loss in the
cell (column Z) or the
(column AB).*Go to the
cell next to the cell where you entered the impairment loss (column AA orcolumn AC).Select '
' from the drop down list.*
If depreciation is charged
ormally the impairment loss is reflected in accumulated depreciation.
Example:If the original cost of a building was £250,000 and is revalued at £200,000, enter 50,000 in the
cell to reflect the impairment loss:
If an impairment loss is charged prior to the year end and depreciation is charged
In this very unlikely situation you will need to override the depreciation charge calculated bythe program to reflect the new depreciation charge due to the impairment of the fixed asset.
Go to '
If depreciation is charged on the asset which has incurred an impairment loss
' on thenext page for further details.
To override the depreciation charge calculated by the program:
Go to the cell '
Depreciation charge in accounting period
' (column V).Unprotect the worksheet (there is no password).Enter (overwrite) the depreciation charge.Protect the worksheet (without a password).
The link to the calculated depreciation charge will be restored after you have run the year end procedure.
© Rupert Parsons 2013 3