MPSAS 21: Impairment of Non-Cash Generating Assets

Originally published at: MPSAS 21: Impairment of Non-Cash Generating Assets | TheAccSense

For this round, we discuss a specific public sector accounting standard – MPSAS 21, which talks about the impairment of non-cash generating assets. This accounting standard is not available for entities in the private sector as assets used by entities in the private sector are mainly used to generate economic benefits, which are often associated with…