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FRS 102: Impairment of assets under UK GAAP

FRS 102 Section 27 Impairment of Assets sets out the requirements that apply to the impairment of assets and the recognition of impairment losses.

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The requirements relating to specific topics are set out as sections within FRS 102. However, individual sections of the standard should not be looked at in isolation as other parts may be relevant.

FRS 102 is regularly updated and amended by the Financial Reporting Council (FRC). For the full text of FRS 102, guidance on which version of the standard to apply and notes on recent amendments, see our main FRS 102 page.

ICAEW factsheets and guides

The Corporate Reporting Faculty's annual UK GAAP factsheets provide a more detailed discussion of recent UK GAAP amendments.

FRS 102 - Impairment of assets
  • Helpsheets and support
  • 05 Jan 2023
  • PDF (379kb)
This factsheet is a summary of the basic principles of accounting for impairment with practical guidance to will help with implementation.

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Exclusive Property, plant and equipment
  • eBook chapter
  • 2024
  • Steve Collings
  • Financial Reporting for Unlisted Companies in the UK and Republic of Ireland
A chapter providing practical guidance on financial reporting of property, plant and equipment under FRS 102, section 17 and FRS 105, section 12.
Exclusive Impairment of Assets
  • eBook chapter
  • 2024
  • Steve Collings
  • Financial Reporting for Unlisted Companies in the UK and Republic of Ireland
A chapter providing detailed practical guidance on financial reporting of impairment of assets under UK GAAP.
Exclusive Impairment of Assets
  • eBook chapter
  • 2023
  • Steve Collings
  • Small Company Financial Reporting
A chapter on impairment of assets within the small companies' financial reporting framework and the micro-entities legislation, written by a specialist on small company reporting issues.
Exclusive Impairment of Assets
  • eBook chapter
  • 2023
  • Steve Collings
  • Practical Guide to UK Accounting and Auditing Standards
Chapter on impairment of assets in a guide to all aspects of UK auditing standards and UK GAAP accounting standards.
Exclusive Depreciation, amortisation and impairment
  • eBook chapter
  • 2021
  • Julia Penny
  • Accounting Principles for Tax Purposes
A chapter on the general principles of accounting for depreciation, amortisation and impairment, together with the specific requirements of FRS 102, Section 27, 'Impairment'.
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Exclusive Impairment of assets
  • eBook chapter
  • 2019
  • Rob Carrington, Ernst & Young
  • UK GAAP 2019 - Generally Accepted Accounting Practice under UK and Irish GAAP
Guide from 2019 focusing on each area of the financial statement in detail with illustrative examples. This chapter gives a comparison of FRS 102 Section 27 and IFRS, and covers the requirements for impairment, impairment of assets other than inventories, goodwill and its allocation to CGUs, recognising and measuring impairment losses, reversal of an impairment loss, and disclosures.
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You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

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Overviews of each UK accounting standard, with a history and timeline of key events and amendments.

UK GAAP model accounts and disclosure checklists Example financial statements and disclosure checklists for UK GAAP available from the ICAEW Library & Information Service, Bloomsbury and other sources.

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