The difference between asset impairment and obsolescence

The difference between asset impairment and obsolescence:\x0d\ Obsolescence is the existence of the asset, but has been eliminated and not useful, obsolete and can not be used. It is the loss of use value of the asset. \x0d\\ is the loss of an asset due to abnormal events such as loss or damage. Assets that are reported as damaged may be repaired and can be continued to be used or sold. \x0d\\\\x0d\ Extended reading \x0d\ Asset reported loss, i.e. declared loss of an asset. \x0d\ For example, goods that are broken, expired, and cannot be returned to the supplier or sold can be made a declaration of loss, as a loss of lost goods. Or if the quantity of inventory in the system is more than the actual inventory count, and you can't find out where those commodities are going, these commodities can be declared as a loss with a loss report. \x0d\\\\x0d\\ Asset obsolescence, i.e., assets (merchandise, equipment, wares, etc.) are scrapped because they can no longer be used or are not qualified. \x0d\\ For assets scrapped or destroyed, the net book value of the assets, after deducting the residual value, insurance indemnity and compensation of the responsible person, the loss shall be recognized on the basis of the following evidences\\x0d\ (a) identification certificate issued by the relevant departments within the enterprise; \x0d\ (b) for assets scrapped or destroyed in large amounts, the enterprise shall make a special explanation for each item and entrust the agency with the qualification of technical identification to carry out identification and issue an appraisal certificate. (c) force majeure reasons (natural disasters, accidents, war, etc.) caused by the destruction of assets, scrap, there should be relevant functional departments issued by the appraisal report, such as the fire department issued a certificate of disaster, the public security department issued by the scene of the accident report, vehicle damage certificate, housing management department of the demolition of the housing certificate, boilers, elevators and other security departments of the inspection report, etc.; \x0d\ (d) the company should not be able to provide the necessary information, but should be able to provide the relevant information to the relevant departments. Inspection reports, etc.; \x0d\ (d) business assets scrapping, destruction of the situation description and internal approval documents; \x0d\ (e) involved in insurance claims, there should be the insurance company's statement of claims.