Accounting glossary
What is book value?
What an asset is worth on the books: cost minus accumulated depreciation. A van bought for $40,000 with $16,000 of CCA claimed has a book value of $24,000 — regardless of what the used market says today.
Example
A van cost $40,000 and has $16,000 of accumulated depreciation against it. Its book value is $24,000.
That figure is what your balance sheet carries, regardless of whether the used market would pay $19,000 or $28,000 for it today.
In SeroBooks
The fixed-assets register carries cost, accumulated depreciation and book value per asset. Fixed assets & CCA →
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