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.