carrying amount, carrying value and book value

CFA Level I FRA
#1

carrying amount, carrying value and book value

Are these terms used interchangeably ?

#2

I’d use Book Value to describe Equity which means Assets-Liability

For Carrying Value, this will depend on the asset/liability

For Inventory, I will describe the carrying value as the Lower of Cost or NRV (IFRS)…or Lower of Cost or Market where Market equals replacement cost.

For available for sale securities or cash equivalent, Carrying value will be the fair market value.

For Held to maturity securities, i think the carrying value will be the Historical amount minue accumulated depreciation/depletion/amortization

For indifinite lived Intangible asset, carrying value will be acquisition cost minus impairment (+reversal under IFRS)

Carrying amount and carrying value are the same. It’s just the amount recorded for an asset or a liability on the balance sheet

#3

I think they are the same… carrying amount and carrying value are definitely the same.