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Non-current assets: Disposal, revaluation and impairment

2.2 Accounting for an impairment

For an asset which is not depreciated, the journal entry would be as follows:

Debit Statement of profit or loss expense account

Credit Non-current asset account

For an asset which is depreciated, the journal entry would be as follows:

Debit Statement of profit or loss expense account

Credit Accumulated depreciation and impairment account

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