Examlex
The primary responsibility for preventing and controlling air pollution rests with the federal government.
Impairment Loss
A charge applied to a company's income statement when the fair value of an asset drops below its carrying value on the balance sheet.
Carrying Value
The recorded book value of an asset in a company's financial statements, calculated as the original cost minus accumulated depreciation or amortization.
Recoverable Amount
The estimated amount that can be recovered from an asset's sale or use, typically higher than its net book value.
Canadian GAAP
Generally Accepted Accounting Principles in Canada, a set of standards for financial reporting and accounting.
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