- Historical Cost Accounting Convention
- An accounting technique that values an asset for balance sheet purposes at the price paid for the asset at the time of its acquisition. Bloomberg Financial Dictionary
Financial and business terms. 2012.
Historical Cost Accounting Convention
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historical-cost accounting — A system of accounting based on the principle that assets should be valued at historical cost It is relaxed to some extent by such practices as the valuation of stock at the lower of cost and net realizable value and, in the UK, revaluation of… … Big dictionary of business and management
historical-cost accounting — A system of accounting based primarily on the original costs incurred in a transaction. It is relaxed to some extent by such practices as the valuation of stock at the lower of cost and net realizable value and, in the UK, revaluation of fixed… … Accounting dictionary
modified historical-cost convention — A modification of the historical cost convention in which certain assets are included at revalued amounts rather than their original cost. Modified historical cost accounting is permitted by the Companies Act. See: alternative accounting rules … Accounting dictionary
Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
Convention of conservatism — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
cost convention — The custom used as a basis for recording the costs to be charged against the profit for an accounting period. The cost convention used may be based on historical cost, current cost, or replacement cost … Accounting dictionary
cost convention — The custom used as a basis for recording the costs to be charged against the profit for an accounting period. The cost convention used may be based on historical cost, current cost, or replacement cost … Big dictionary of business and management
monetary measurement convention — The accounting convention that transactions are only recognized in financial statements if they can be measured in monetary terms. This means that some assets, such as a highly trained workforce or a sound customer base, will not be shown. It is… … Accounting dictionary
realization convention — The general basis used in financial statements prepared under historical cost accounting, in which increases or decreases in the market values of assets and liabilities are not recognized as gains or losses until the assets are sold or the… … Accounting dictionary
HISTORICAL SURVEY: THE STATE AND ITS ANTECEDENTS (1880–2006) — Introduction It took the new Jewish nation about 70 years to emerge as the State of Israel. The immediate stimulus that initiated the modern return to Zion was the disappointment, in the last quarter of the 19th century, of the expectation that… … Encyclopedia of Judaism
