When measuring an impairment loss for a long- term operating asset, must firms determine the fair value

Question:

When measuring an impairment loss for a long- term operating asset, must firms determine the fair value using a model? Explain.
Discounted Cash Flows
What is Discounted Cash Flows? Discounted Cash Flows is a valuation technique used by investors and financial experts for the purpose of interpreting the performance of an underlying assets or investment. It uses a discount rate that is most...