Deloitte
Accounting Research Tool
...
Chapter 2 — Long-Lived Assets Classified as Held and Used

2.8 Assets That Provide No Future Benefit

2.8 Assets That Provide No Future Benefit

An entity may determine that a specific asset within a larger asset group has no future benefit (e.g., when the asset is destroyed [as opposed to damaged], becomes obsolete, or is lost). Even if the asset group is determined to be recoverable as a whole, the entity would need to write off an asset that has no future benefit.