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Advantages and disadvantages of historical cost accounting, alternatives to historical cost accounting
Essay specific features
Written by:
Dennis M
Date added:
April 27, 2014
Level:
University
Grade:
B
No of pages / words:
5 / 1218
Was viewed:
8046 times
Rating of current essay:
Essay content:
Historical cost means what it cost the company for the item. It is not fair market value. This means that if a company purchased a building, it is recorded on the balance sheet at its historical cost. It is not recorded at fair market value, which would be what the company could sell the building for in the open market...
displayed 300 characters
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Historical cost means what it cost the company for the item. It is not fair market value. This means that if a company purchased a building, it is recorded on the balance sheet at its historical cost. It is not recorded at fair market value, which would be what the company could sell the building for in the open market...
displayed 300 characters
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