What does asset impairment mean?

asset impairment meaning in Urban Dictionary

To literally damage one with whom you have actually a disagreement; to earnestly mess someone up so very bad that they need to write off their particular assets; Other forms of term feature: impair his/her possessions, assets were damaged, FAS 144, etc. See Financial Accounting specifications - FAS 144 for more information.

asset impairment meaning in Business Dictionary

whenever a company can no longer utilize a secured asset. As an example, a piece of equipment found in the manufacturing process features broken to the point that company struggles to fix or utilize this gear. The company can allocate because of this reduced gear within their yearly statement of finance.