Net Book Value
Net book value is the value of an asset after deducting accumulated depreciation from its original cost. It reflects the current accounting value on the balance sheet, not necessarily the market value. Net book value helps track asset value and is important for calculating depreciation and gains/losses on disposal.
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Non-current Liabilities
Non-current liabilities are long-term financial obligations not due within the current fiscal year. These include bonds payable, long-term loans, deferred…
Net Realizable Value
NRV is the estimated selling price of an asset, less any costs required to complete or sell it. It’s commonly…
Nominal Account
Nominal accounts are temporary accounts used to record income, expenses, gains, and losses during a period. They are closed at…
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