Siegel, J. G.; Dauber, N.; Shim, J. K. (2005). The Vest Pocket CPA. John Wiley & Sons. ISBN978-0471708759. OCLC56599007.There are different methods of assessing the monetary value of the assets recorded on the Balance Sheet. In some cases, the Historical Cost is used; such that the value of the asset when it was bought in the past is used as the monetary value. In other instances, the present fair market value of the asset is used to determine the value shown on the balance sheet.