摘要
For a shipping company, the vessel is the most valuable and important asset. In most cases, the value of the vessel is the bigger part of total assets. Under International Accounting Standards （IAS） and also United States Generally Accepted Accounting Principles （US GAAP） （IAS 36 and Statement of Financial Accounting Standards （SFAS） 144 respectively）, entities are required to conduct impairment tests where there is an indication of impairment of an asset. It is of high importance that the assumptions and the methodology of these tests be right, in order for the results of these tests to be valid. Always, there is the risk that the accountant manipulates the test in order to avoid any impairment losses. Our purpose is to examine the way that the results from these tests are related with market values. Also, we aim to examine under what test assumptions the results from these tests are close enough to market values of vessels.
