Salvage value
Salvage value is the amount of the asset's cost that will be recovered when the asset is sold, traded in, or scrapped.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Salvage value. The amount of the asset's cost that will be recovered when the asset is sold, traded in, or scrapped.
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Salvage value. The market value of an asset after its useful life.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
