The amortized cost of an asset, before adjusting for any loss allowance (without deduction for expected credit losses/ ECL). Revaluation of the carrying amount of the asset prompts for adjustment in the gross carrying amount. For example, the gross carrying amount may be re-adjusted/ restated by reference to observable market data or proportionately to the amount of change in the carrying amount. An adjustment of the accumulated depreciation/ amortization at the date of revaluation is made to account for the variance between the gross carrying amount and the carrying amount after deduction of accumulated impairment losses.
July 2, 2024
