UK Accounting Glossary
The historical cost of a fixed asset before any depreciation is deducted.
The historical cost of an asset (which is what the owner originally paid for it) less its total depreciation (which is the portion of value removed each year for accounting purposes) up to that point. That is, the unamortised cost of an asset is the value of the asset that has not yet been subtracted for depreciation. This affects the owner’s net asset value, but the unamortised cost often has only a rough relationship with the asset’s actual fair market value.
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This glossary post was last updated: 6th May 2019.