historical cost

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Historical cost

Describes the accounting cost carried in the books and reflecting the cost of the item at the time it was purchased, rather than its current value.

Historical Cost

In the Generally Accepted Accounting Principles, the original cost of an asset on a balance sheet. Many assets, particularly illiquid assets, are recorded on a balance sheet according to their historical cost. A notable exception to this rule is the recording of marketable securities, which are recorded according to their market value. The historical cost usually bears little or no relationship to the market value after an asset has been held for several years.

historical cost

The amount of money that was originally used to pay for an asset. A company records assets on a balance sheet at historical cost, which often bears little relation to the market value of the assets after they have been owned several years. Also called original cost.
References in classic literature ?
In a note-book we jotted down, as had been our custom, details that would be of historical value later.
7m to the sale of a Bru Jeune Bebe Helene Alicia doll being sold for PS17,000 - antiques of historical value is certainly where the money lies (Gazette, 26.
The whereabouts of the instrument was unknown for more than 50 years until last year when a California man discovered a guitar in his possession may have historical value.
Executive board member for conservation Cllr Meryl Gravell said: "This tree has local, cultural and historical value, and it would not be desirable to fell it.
He said there are plans to add Um Al Jimmal site, in northern Jordan, to the list, as well as support existing efforts to put the city of Salt, west-central Jordan, on the list as the first city characterized by a distinctive historical value.
Apollo curator Allan Needell said: "These artifacts are of priceless historical value.
The calls will preferably relate exterior lighting design for buildings in the city of Stockholm has a special historical value.
THE GPO must be recognised for its historical value, a politician has claimed.
Chris Marsden, Civic Society chairman, said: "The council's Conservation and Design report is as skimpy in detail as the university's historical assessment of it they don't address any of the points we raised about its historical value.
FRF Executive Director Jim Wilkirson says, "Our goal with this exhibition is to show the educational and historical value of Ms.
Mizrahi told a UK publication that one should be careful not to rush into any conclusion that the new findings automatically deny any historical value from the biblical stories.
The Union Museum aims to reinvigorate the historical value of the site and the building that witnessed the signing and the announcing of the establishment of the UAE.

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