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Has the concept of asset impairment changed accounting for long-lived assets under the historical cost model? If so, how

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The concept of asset impairment has not affected accounting for long-lived assets under the historical cost model. In the concept of asset impairment, the balance sheet date, all assets are analyzed to look for any sign about an asset, which is qualified for impairment. On the other hand, the Long-Lived Asset Impairments account for our long-lived assets at depreciated historical cost.

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