# The Registered Housing Associations (Accounting Requirements) Order 1988, Paragraph 4


(1) Fixed assets shall be entered in the balance sheet at their net book value, calculated in accordance with this paragraph.
(2) The net book value of the fixed assets which comprise housing land of an association which is not a co-ownership society shall be accompanied in the balance sheet by the elements in that calculation.
(3) The net book value of any fixed asset other than housing land is the difference between the cost of that asset and the amount provided for depreciation thereof.
(4) The net book value of any housing land belonging to a co-ownership society shall be calculated in accordance with the housing cost and finance statement of that society.
(5) The net book value of any other housing land shall be calculated according to the difference between its cost and the sum of–
(a) the total amount provided for depreciation;
(b) all housing association grant received in respect thereof; and
(c) the total amount transferred to the property equity account (if any) in respect of that land.
(6) The cost to be entered under this paragraph for any asset is the cost of its acquisition and the cost of any works carried out thereupon.

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Source: https://www.legislation.gov.uk/uksi/1988/395/schedule/1/paragraph/4 (the official version)
Page: https://openlegislation.uk/registered-housing-associations-accounting-requirements-order-1988/schedule-1/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.