I am a commerce student. This question is my biggest query. Please sought out it.
Depreciation of assets in the allocation of assets whose value is placed on the balance sheet. It is a kind of tangible asset that may incur a cost.
While Impairment of assets in the assets of a company whose value in the market is less than the actual price entered in the balance sheet. They are usually long-term assets. The longer the span the greater the impairment.
*Depreciation on assets- These assets are those which is held by an enterprise for use in the production or supply of goods and services it is expected to be used during more than one accounting period.