0
What else can I help you with?
What is the definition of Historical Cost?
what is the definition of historical cost
What is the difference between historical cost and replacement cost?
I believe historical cost is the original cost @ time of buying. Replacement cost is the price it would cost you @ present day values
A cost that is previously incurred and irreversible is known as?
opportunity cost historical cost
Historical cost based depreciation tends to do what when there is inflation?
HIstorical cost based depreciation tends to increase profits when there is inflation
Why are historical costs irrelevant?
Historical costs are irrelevant because historical costs are sunk cost and no body can change any decision made in past so anything which can not be change due to underlying decision then that cost is irrelevant cost.
What is the definition of Historical Cost?
what is the definition of historical cost
Advantages of historical cost accounting?
strength of historical cost accounting
What is the difference between historical cost and replacement cost?
I believe historical cost is the original cost @ time of buying. Replacement cost is the price it would cost you @ present day values
What is the historical cost model?
Historical cost model is a valuation process for assets wherein they are valued at cost of acquisition plus all costs incidental to cost of acquisition.
What is the Contradiction between historical cost and fair value?
Historical cost and fair value are opposite effects. Historical cost, also known as historical value, is what an item is worth due to its age. Fair value is what the actual value of said item is.
A cost that is previously incurred and irreversible is known as?
opportunity cost historical cost
Historical cost based depreciation tends to do what when there is inflation?
HIstorical cost based depreciation tends to increase profits when there is inflation
Why are historical costs irrelevant?
Historical costs are irrelevant because historical costs are sunk cost and no body can change any decision made in past so anything which can not be change due to underlying decision then that cost is irrelevant cost.
Difference between histotical cost and standard cost?
Standard cost is the cost which is basis to measure the actual cost historical cost is the initial cost
What are the historical cost argue for and against its usage in the preparation of final account of a sole trader?
argue for and against the usage of historical cost in preparation of final account
What are the advantage on historical cost accounting?
The main advantage of using historical cost on the balance sheet for property, plant and equipment is that historical cost can be verified. Generally, the cost at the time of purchase is documented with contracts, invoices, payments, transfer taxes, and so on.The historical cost of plant and equipment (not land) is also used to determine the amount of depreciation expense reported on the income statement. The accumulated amount of depreciation is also reported as a deduction from the assets' historical costs reported on the balance sheet. (In the case of impairment, some assets might be reported at less than the amounts based on historical cost.)The use of historical cost is also a disadvantage to those users of the financial statements who want to know the current values.
How is historical cost dependent on the going concern?
ok
