Define: Historical Cost

UK Accounting Glossary

Definition: Historical Cost


Quick Summary of Historical Cost


Method of valuing assets and liabilities based on their original cost without adjustment for changing prices.




What is the dictionary definition of Historical Cost?

Dictionary Definition



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Full Definition of Historical Cost



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Examples of Historical Cost in a sentence


Our historical cost loss of £53 million was recorded after stock holding losses of £34 million.
Fixed assets shall be accounted for based on the historical cost obtained.
The accounts have been prepared under the historical cost convention.
When conforming with historical cost principles, Inventory must be measured at the acquisition cost.


Historical Cost FAQ's



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https://payrollheaven.com/define/historical-cost/
Modern Language Association (MLA):
Historical Cost. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 21, 2019 https://payrollheaven.com/define/historical-cost/.
Chicago Manual of Style (CMS):
Historical Cost. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/historical-cost/ (accessed: November 21, 2019).
American Psychological Association (APA):
Historical Cost. PayrollHeaven.com. Retrieved November 21, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/historical-cost/

Definition Sources


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This glossary post was last updated: 23rd December 2018.