Definitions for "Historical cost"
The amount of cash or value of other resources used to acquire an asset; for some assets, historical cost is subject to depreciation, amortization, or depletion.
ACCOUNTING is an accounting principle requiring all financial statement items to be based on original cost. It is usually based upon the dollar amount originally exchanged in an arm's-length transaction; an amount assumed to reflect the fair market value of an item at the transaction date.
Refers to an accounting principle requiring all financial statement items be based on the original acquisition cost. The dollar is assumed to be stable for the period involved.
Keywords:  valuation, basis, usual
The usual basis of valuation.