diff --git a/erpnext/assets/doctype/asset/asset.json b/erpnext/assets/doctype/asset/asset.json
index 8a0e3ad..d55258c 100644
--- a/erpnext/assets/doctype/asset/asset.json
+++ b/erpnext/assets/doctype/asset/asset.json
@@ -23,7 +23,6 @@
   "asset_name",
   "asset_category",
   "location",
-  "asset_value",
   "custodian",
   "department",
   "disposal_date",
@@ -485,12 +484,6 @@
    "label": "Finance Books"
   },
   {
-   "fieldname": "asset_value",
-   "fieldtype": "Currency",
-   "label": "Asset Value",
-   "read_only": 1
-  },
-  {
    "fieldname": "to_date",
    "fieldtype": "Date",
    "hidden": 1,
@@ -523,7 +516,7 @@
    "link_fieldname": "asset"
   }
  ],
- "modified": "2021-05-21 12:05:29.424083",
+ "modified": "2021-06-17 12:59:39.189106",
  "modified_by": "Administrator",
  "module": "Assets",
  "name": "Asset",
diff --git a/erpnext/assets/doctype/asset/asset.py b/erpnext/assets/doctype/asset/asset.py
index b3d3a19..4820f8b 100644
--- a/erpnext/assets/doctype/asset/asset.py
+++ b/erpnext/assets/doctype/asset/asset.py
@@ -96,9 +96,6 @@
 			finance_books = get_item_details(self.item_code, self.asset_category)
 			self.set('finance_books', finance_books)
 
-		if not(self.asset_value):
-			self.asset_value = self.gross_purchase_amount
-
 	def validate_asset_values(self):
 		if not self.asset_category:
 			self.asset_category = frappe.get_cached_value("Item", self.item_code, "asset_category")
@@ -187,8 +184,12 @@
 					start = n
 					break
 
-			value_after_depreciation = (flt(self.asset_value) -
-				flt(self.opening_accumulated_depreciation)) - flt(d.expected_value_after_useful_life)
+			if d.value_after_depreciation: 
+				value_after_depreciation = (flt(d.value_after_depreciation) -
+					flt(self.opening_accumulated_depreciation)) - flt(d.expected_value_after_useful_life)
+			else:
+				value_after_depreciation = (flt(self.gross_purchase_amount) -
+					flt(self.opening_accumulated_depreciation)) - flt(d.expected_value_after_useful_life)
 
 			d.value_after_depreciation = value_after_depreciation
 
diff --git a/erpnext/assets/doctype/asset_finance_book/asset_finance_book.json b/erpnext/assets/doctype/asset_finance_book/asset_finance_book.json
index ee3a207..e5a5f19 100644
--- a/erpnext/assets/doctype/asset_finance_book/asset_finance_book.json
+++ b/erpnext/assets/doctype/asset_finance_book/asset_finance_book.json
@@ -84,7 +84,7 @@
  "index_web_pages_for_search": 1,
  "istable": 1,
  "links": [],
- "modified": "2021-06-17 08:02:32.650738",
+ "modified": "2021-06-17 12:59:05.743683",
  "modified_by": "Administrator",
  "module": "Assets",
  "name": "Asset Finance Book",
diff --git a/erpnext/assets/doctype/asset_repair/asset_repair.py b/erpnext/assets/doctype/asset_repair/asset_repair.py
index 92f7408..2d03919 100644
--- a/erpnext/assets/doctype/asset_repair/asset_repair.py
+++ b/erpnext/assets/doctype/asset_repair/asset_repair.py
@@ -61,13 +61,19 @@
 			frappe.throw(_("Please enter Warehouse from which Stock Items consumed during the Repair were taken."), title=_("Missing Warehouse"))
 
 	def increase_asset_value(self):
-		asset_value = frappe.db.get_value('Asset', self.asset, 'asset_value')
+		total_value_of_stock_consumed = 0
 		for item in self.stock_items:
-			asset_value += item.total_value
+			total_value_of_stock_consumed += item.total_value
 
-		if self.capitalize_repair_cost:
-			asset_value += self.repair_cost
-		frappe.db.set_value('Asset', self.asset, 'asset_value', asset_value)
+		asset = frappe.get_doc('Asset', self.asset)
+		asset.flags.ignore_validate_update_after_submit = True
+		if asset.calculate_depreciation:
+			for row in asset.finance_books:
+				row.value_after_depreciation += total_value_of_stock_consumed
+
+				if self.capitalize_repair_cost:
+					row.value_after_depreciation += self.repair_cost
+		asset.save()
 
 	def decrease_stock_quantity(self):
 		stock_entry = frappe.get_doc({