Do financial statements show the market value of an asset?

In general, financial statements show the book value of an asset, not the market value.

The few instances where the financial statements will show market valuations are as follows:

* When derivatives are carried for hedge purposes, they are periodically marked-to-market

* When an investment appears to materially have lost value (when comparing to similar instruments in the market or, for illiquid markets, when operating cash flows from an investment go down markedly), conservatism requires the asset value to be moved to the "market" or lower price