Damage to Company Assets : Method of Accounting for the Negative Event and any Insurance Compensation

The damage to the company's assets may concern products belonging inventories or multi-year tangible assets. Depending on type of assets, accounting recognition is profoundly different. As will be seen following pages, no particular problems arise concerning insurance compensation since recognised when receivable from company occurs in legal terms. can only realised if it quantitatively determined. This never a problem such claim established by contract signed and an expert's report assessing suffered asset.