Summary. The article is devoted the differences in the preparation of information on impairment of assets in the financial statements according to international and national standards of Ukraine. The inaccuracy of the official Ukrainian translation of key term IAS 36 “impairment of assets” are identified, and the replacement in the Ukrainian standards of the phrase “reduction of utility assets” to “decrease in the future economic benefits of the assets” are proposed. The differences in the list of groups of assets to be tested for decreases in economic benefits are identified for the international and Ukrainian standards. The alternative scheme of registration of facts reduce future economic benefits are proposed for tangible, intangible, biological and financial assets in the accounts by introducing contractive subaccounts.

Key words: impairment of assets, future economic benefits of the assets, impairment loss, recoverable amount, carrying amount.