It stands for replacement value; the replacement value of an asset is the cost that entity (broadly, the user) has to incur in order to replace the asset with another resource that can bring about the same or better economic benefits at the same cost or a lower cost, under normal conditions. It is the market price of another asset with equal economic benefits at the present time. Replacement doesn’t mean that the same asset would be procured, but rather the same future economic benefits (or value in use).

RV is also an abbreviation for relief value; a sort of deprival value for a liability (only used for the measurement of specific types of liabilities). It is the amount by which an entity (already having assumed the liability- that is, having recognized it on its balance sheet) would be better off if it were relieved from the liability (by means of transferring it to a third party). As a measure of relief, a replacement liability (an entry price) is normally used.

RV may also stand for residual value– that is, an estimated amount that an entity can receive from disposal of an asset at the end of its useful life. An asset’s residual value is determined by deducting the estimated disposal costs associated with the asset.

In yet another context, RV may also denote receipt voucher.