Impairment of Non- current Assets - Implementation and Disclosure: Evidence from Industrial Firms in Jordan

The objective of this paper is to identify whether the industrial Firms - which are listed in Amman Stock Exchange (ASE) -  implement and disclose impairment loss of non- current non-current assets in conformity with the requirements of IFRS/IAS 36 or not . What is the percentage of listed firms in the sample that have implemented or disclosed the impairment tests from the respondents’ point of view? For attaining these objectives, an empirical research was based on 40 paragraphs which deal with impairment accounting included in the study questionnaire. T- Test in addition to various descriptive statistics conducted on a sample of 47 listed industrial companies in 2015. The study reveals that the two null hypotheses have been accepted; industrial companies implement IFRS/IAS 36 requirements with a poor degree of (57.4%); consequently, the disclosure is also applied with (57.6%). The study concluded that utmost attention should be paid for adopting the impairment accounting. Disclosing of impairment loss could improve the reports for giving the reason to the impairment loss; this is beneficial for the management as well as for the investors and one of the study’s recommendations is to encourage the internship in IFRS/IAS for the accounting staff in the industry sector as a whole.