Impairment of long-lived assets and analysis of SFAS (Statement of Financial Accounting Standards) 144

As a result of industrial revolution, acquirement of long-lived assets which will beused by entities in order to be able to continue their operations under same competitiveconditions with other entities; and use of these assets have become important.Rapid technological development and changes occurring in today?s information(age) economy have made long-lived assets and use of these assets appropriate to theaims of the enterprise, one of the key factors of success.Long-lived assets which have been acquired by entities in order to reap benefitsfor their present and future operations are crucially important for them. Thus,acquirement, use, situations which will be faced while use of these assets and disposalof these assets must be systematized by entities and acts. SFAS 144 (Accounting forImpairment or Disposal of Long-Lived Assets) which is the subject of this studypromulgates accounting and financial reporting conditions related to classification,measurement, identification of impairments if exist and finally disposition of long-livedassets.