It is hard to disagree with today's comic . The definition which is heard by Anthony's daughter will be judged by many as accurate. Just think of the value of fixed assets. So really, who in their sane mind would test fixed assets for impairment? However, if they are tested, the accountant would know their real value. For many of us, this is still just a theory. More important are the more mundane tasks, such as corporate income tax, where the correct charge is crucial.