ACCOUNTING-IMPAIRMENT

Using the Internet or databases, research an example of impairment of assets disclosed in the financial statements of a publicly traded company.

Explain the reasons for the impairment and the justification for treating the write-down as a permanent decline in value of the asset(s). A difference between the book value of plant assets and the fair value generally exists.
Explain the role technology and obsolescence have in the impairment of assets.