In accounting, book value or carrying value is the value of an asset or liability accoring to its balance sheet account balance. Book value is the value carried on the bookkeeping records of an economic entity such as an individual, corporation, government, or other organization. Depending on the circumstances, assets and liabilities may be valued on a balance sheet at actual value (cash and cash equivalents), acquisition cost, depreciated value, amortized value, depleted value, or market value.