The net realizable value of an asset, representing its market price at the balance sheet date, less the selling expenses.
A fundamental accounting concept that assumes an enterprise will continue its operations for the foreseeable future. It is integral in financial reporting and valuation of assets and liabilities.
Non-adjusting events are occurrences that take place between the balance-sheet date and the approval of financial statements by the board of directors. These events do not relate to conditions that existed at the balance-sheet date but necessitate disclosure if they are material to the financial statements.
