HumanBookkeeping.com™ can help. We are expert bookkeepers that can help your small business with its bookkeeping needs. Here’s a short explanation of what Impairment means. If we can be of more help explaining what Impairment is or if we can help you with any of your small business bookkeeping needs, give us a call at 888-994-8626(888-99HUMAN).HumanBookkeeping.com™ provides a way for small businesses to have outsourced bookkeeping at a significant savings. We provide our clients with pre-printed envelopes. You stuff the envelopes and our expert team does the rest with detailed reports and timely compliance support. Not to mention, you now have a team of experts at your disposal should you have questions or last-minute needs. Let’s start with answering what Impairment means:

When bookkeepers refer to impairment, they are referring to reductions in book value of assets. Based on the principle of lower of cost or market, if the market value for an asset is reduced, the bookkeeper needs to reduce the book value of the asset.This reduction is shown as impairment.

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