Residual value
Residual value (hereinafter, the Value) is estimated value of an asset after all the allowable depreciation has been taken.
Contents
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Residual value. Estimated value of an asset after all the allowable depreciation has been taken.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
Related coursework
Residual 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),
- Residual value (salvage value). The amount of the asset's cost that will be recovered when the asset is sold, traded in, or scrapped.
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.
