The value of an asset after accumulated depreciation has been deducted is known as thecarrying amount. Since the carrying amount must be computed, it... Learn more about this topic: Recording Transactions in Accounting | Process & Examples ...
What is an accrual book in accounting? Why is the income statement a nominal account in accounting? What is a write off balance in accounting? What are subsidiary accounts in accounting? What is write off in accounts receivable? What is a carrying amount in accounting?
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Carrying Value Fair Value Different from the carrying value, thefair valueof assets and liabilities is calculated on amark-to-market accounting basis. In other words, the fair value of an asset is the amount paid in a transaction between participants if it's sold in the open market. A willi...
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An impairment in accounting is a permanent reduction in the value of an asset to less than its carrying value.
An adjunct account is a general ledger account that is related to another general ledger account. The combination of the balance in the adjunct account and the other general ledger account is the carrying amount or book value of the main account. An adjunct account might be referred to as a...
the company, are deducted. Depending on the accounting method that prevails in the area where the company is located, the value of intangible assets may also be subtracted from the value of the total assets. Calculating carrying value of this type is often used as a means of setting a sale...
In accounting, a valuation account is usually a balance sheet account that is used in combination with another balance sheet account in order to report the carrying amount or carrying value of an asset or liability. The benefit of a valuation account is that the amount in the main account is...