Asset valuation involves determining the current worth of an organization's assets, considering various valuation methods including revaluation and present value calculations.
The depreciable amount is the value of a fixed asset used as the basis for calculating the depreciation charge for a specific period.
Property, Plant, and Equipment (PP&E) are tangible fixed assets used in operating a business. This category includes land, buildings, machinery, fixtures, and other types of equipment that are expected to be used over multiple accounting periods.
Revaluation involves increasing the value of an asset to reflect its current market value, where the asset cost account is debited and the revaluation reserve is credited.
