Provision on impairment loss on owned assetForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Provision on impairment loss on owned assetThis topic has 1 reply, 2 voices, and was last updated 2 years ago by Stephen Widberg.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts March 7, 2022 at 1:17 pm #650055 nurjiwaMemberTopics: 4Replies: 5☆Why cannot recognise provision on the impairment loss of owned asset ? March 8, 2022 at 9:58 am #650210 Stephen WidbergKeymasterTopics: 15Replies: 3355☆☆☆☆☆NEVER ( 🙂 ) use the word provision in respect of an asset. It would be like calling the Queen of England Betty instead of Your Majesty.Why? A provision is a LIABILITY of uncertain timing or amount.So, always say the asset will be impaired or there will be an allowance for impairment.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In