- Equals cost minus accumulated depreciation.
- Property and equipment are stated at cost or valuation less accumulated depreciation and accumulated impairment losses.
- Cost less the accumulated depreciation claimed in prior years' income tax.
- The book value of a plant asset is its cost minus the related accumulated depreciation.
- When fixed assets are revalued upwards, any accumulated depreciation existing at the date of the revaluation should not be credited to income.