is an impaired asset considered a loss 
under gaap an impaired asset must be recorded as a loss on the income statement it is important to compare the value of the asset to the fair market value to help determine the loss 9the bottom lineimpairment refers to the reduction in the value of a company asset either a fixed asset or an intangible asset the entire value of the asset is not typically recorded as a loss but most often the difference between the predicted cash flow of the asset and the book value if the book value is higher is the amount recorded as a loss periodically evaluating the value of assets helps a company accurately record its asset value rather than overstating its asset value which could lead to financial problems later on 9