The Net Book Value of a business enterprise is the difference between total assets (net of accumulated depreciation, depletion, and amortisation) and total liabilities as they appear on the statement of financial position. This is synonymous with shareholder's equity. For a specific asset, the Net Book Value may be computed as the capitalised cost less accumulated amortisation or depreciation as it appears on the statement of financial position of the business enterprise. In business valuation analysis, the net book value can be adjusted to represent the fair market value of the business enterprise when the fixed assets are valued to their current market value. The net asset value falls under the asset approach in business valuation analytics.