Gain on Asset Disposal
Code: 4830
👁 Views: 112
Account Information
| Financial Statement | Income Statement |
| Normal Balance | Credit |
Definition
The positive difference between the selling price of a fixed asset and its net book value (cost less accumulated depreciation).
Sub-accounts
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IAS 16
Property, Plant and Equipment
US GAAP
ASC 360
Property, Plant and Equipment
❓ Frequently Asked Questions
Q: What is gain on asset disposal?
A: The positive difference between the selling price of a fixed asset and its net book value (cost - accumulated depreciation).