historic cost accounting

historic cost accounting
historic cost accounting UK US noun [U] (also historical cost accounting) ACCOUNTING
a method of accounting that uses the original cost of something, with no changes made for inflation

Financial and business terms. 2012.

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  • historic costs accounting — The carrying of assets in the balance sheet at their original (or historic) cost. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …   Law dictionary

  • historic cost — ➔ cost1 * * * historic cost UK US noun [C] (also historical cost) ACCOUNTING ► the cost or value of something at the time it was bought: »The important thing to note about the balance sheet is that the fixed assets continue to be shown at their… …   Financial and business terms

  • historic cost — or historical cost noun (accounting) The actual price paid (cf ↑current cost) • • • Main Entry: ↑history …   Useful english dictionary

  • historical cost accounting — UK US noun [U] ACCOUNTING ► HISTORIC COST ACCOUNTING(Cf. ↑historic cost accounting) …   Financial and business terms

  • Accounting identity — In finance and economics, an accounting identity is an equality that must be true regardless of the value of its variables, or a statement that by definition (or construction) must be true. [ Principles of Macroeconomics , Mankiw et al., pp. 211… …   Wikipedia

  • historic — /hɪ stɒrɪk/, historical /hɪ stɒrɪk(ə)l/ adjective which goes back over a period of time ▪▪▪ ‘…the Federal Reserve Board has eased interest rates in the past year, but they are still at historically high levels’ [Sunday Times] ▪▪▪ ‘…the historic… …   Dictionary of banking and finance

  • Constant purchasing power accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • Inflation accounting — is a term describing a range of accounting systems designed to correct problems arising from historical cost accounting in the presence of inflation. [ [http://financial dictionary.thefreedictionary.com/inflation+accounting Wall Street Words: An… …   Wikipedia

  • historical cost — Describes the accounting cost carried in the books for a current cost of the item. Bloomberg Financial Dictionary * * * historical cost historical cost ➔ cost1 * * *    The original cost of a company s assets, as distinct from replacement cost. * …   Financial and business terms

  • current value accounting — ➔ accounting * * * current value accounting UK US noun [U] (also current cost accounting, also fair value accounting) ► ACCOUNTING a method of accounting based on the cost of replacing assets at the prices that would be paid now, rather than at… …   Financial and business terms

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