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The Value view calculates the current value of an asset based on its history.
There are two ways that assets can be valued:
Both cost and value are important because they allow businesses to report the value of their inventory accurately and to make repair versus replace decisions based on asset valuation.
A Recost function is available as both a button and a menu command in the Asset Screen's Value view. Recost assesses an asset's cost by applying data from asset value records. To calculate the current cost and the replacement value of the asset, an end user must select a cost list, condition, and value basis and then click the Recost button or choose Recost from the view menu. Recost calculates the values by taking the cost of the asset from the cost list, factoring in the cost method, and applying the factor from Asset Mapping. Asset Mapping must provide mapping for Asset Value and Replacement Cost. If the mapping is unavailable, the factor defaults to 100%.