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Accounting Principles: Costo storico

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    FAISAL A.
    YE
    FAISAL A.

    I understand that the historical cost is what the organisation has Registered systematically the past costs for every variety of items and daily costs

    Gabriel O.
    ML
    Gabriel O.

    Accounting Historical cost, requires that intems be recorded at their original cost of aquisation. this helps to distinguish between original cost and replacement cost,historical cost princip le states that an asset should be reported at its cost (cash or cash equivalent amount) at the time of the exchange transaction and should include all costs necessary to get the asset in place and ready for use.

    Wendy C.
    AU
    Wendy C.

    Historical Cost All items are recorded at the original cost, i.e. the cost at which they were acquired. It is a breach to use their current market value here.

    Samuel F.
    ZA
    Samuel F.

    What is historical cost?

    Harrison A.
    AT
    Harrison A.

    Historical cost principles makes it clear that assets and liabilities are recorded at the price at which they were acquired.this is to ensure a reliable price cause market values can fluctuate and be different between differing opinions,so the price acquisition is used .

    Zachary B.
    US
    Zachary B.

    What are historical cost accounting principles?

    Ella Rose M.
    MY
    Ella Rose M.

    periodic costs could be derived from past years and is used for forecasts

    Caroline Monica M.
    MW
    Caroline Monica M.

    Historic cost of the property is the value in the year of purched, no matter after how long.

    Caroline Monica M.
    MW
    Caroline Monica M.

    Other properties apreciate value while other depreciate. Does this principle od Historical Cost work for those that depreciate?

    Diamond T.
    US
    Diamond T.

    I understand that the historical cost is what the organisation has Registered systematically the past costs for every variety of items and daily costs

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