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NRV

Forums › FIA Forums › MA2 Managing Costs and Finance Forums › NRV

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by Ken Garrett.
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  • August 12, 2021 at 11:56 am #631333
    James124
    Participant
    • Topics: 166
    • Replies: 138
    • ☆☆☆

    Is NRV our Scrap Value?

    August 12, 2021 at 4:32 pm #631367
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10594
    • ☆☆☆☆☆

    In simple cases the NRV of eg a piece of machinery is its scrap value or resale value.

    In more complicated cases NRV accounts for the costs relating to sale. So, if a business was selling and old machine for $5,000 (whether for scrap or to somone who will use it second hand doesn’t matter), but it costs the seller $500 to uninstall it before it can be shipped, then the NRV is 5,000 – 500 = 4,500.

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