Statutes, codes, and regulations
New Mexico Administrative Code
Title 2 - PUBLIC FINANCEChapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES
Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS
Section 2.20.1.17 - IMPAIRMENT

N.M. Admin. Code § 2.20.1.17

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Current through Register Vol. 36, No. 1, January 14, 2025
Section 2.20.1.17 - IMPAIRMENT
A. An asset is considered impaired if its estimated life has been reduced, or its ability to generate revenue has been reduced.
B. On finding that an asset has been impaired, the accounts for the fund or group to which the asset belongs should be posted with the appropriate entries to adjust its value to the new estimate.

N.M. Admin. Code § 2.20.1.17

09-30-99; Recompiled 10/01/01, Adopted by New Mexico Register, Volume XXX, Issue 24, December 31, 2019, eff. 12/31/2019