wear out - to become damaged and useless, or to make something like this, by using it a lot or for a long time, revalue - to examine something again in order to calculate its present value, straight-line method - a method of calculating the depreciation of an asset, in which the value of the asset is reduced by exactly the same amount each year and the amount is charged to the profit and loss account, accelerated depreciation - a system where tax authorities allow larger amounts for depreciation at the beginning of the life of an asset, and for the whole value of the asset to be claimed before the end of its useful life, market value - the value of a product, building etc based on the price that people are willing to pay for it, rather than the cost of producing it or building it, Net Realizable Value - the realistic value of an asset if it were sold, after taking off any costs relating to selling it, appreciation - a rise in value, especially of land or possessions, depreciation - a reduction in the value or price of something, fixed assets - land, buildings, or equipment that a business owns and uses, balance sheet - a document showing a company’s financial position and wealth at a particular time, often the last day of the financial year, valuation - a professional judgment about how much something is worth, intangible assets - something that a business has and can make money from, but that is not something physical and so cannot easily be valued, for example a name of a product, technical knowledge, loyalty from customers etc, tangible assets - property such as buildings, equipment etc, bondholder - someone who owns government or industrial bonds, shareholder - someone who owns shares in a company or business, liabilities - an amount of money owed by a business to a supplier, lender etc, assets - the things that a company owns, that can be sold to pay debts,

Accounting 2

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