historical cost convention
1historical-cost convention — A convention under which assets are carried in the books of account at their historical cost. See also: modified historical cost convention …
2modified 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 …
3historical-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… …
4historical-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… …
5cost 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 …
6cost 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 …
7Historical 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 …
8Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …
9Convention of conservatism — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …
10Historical powers — include great powers, nations, or empires in history. The term Great power represent the most important world powers. In a modern context, recognised great powers came about first in Europe during the post Napoleonic era.[1] The formalization of… …
