Word forms: (regular plural) current costs
nounRelated wordsCompare current cost to historical cost, which is the original cost of an asset when it was first acquired by a company.
( Accounting : Financial statements )
The drawback to using the current cost rather than historical cost approach is that cost estimates may be difficult and
costly to obtain.
The depreciation adjustment requires that the fixed assets included in the historical
cost balance sheet be restated at their value to the business by reference to current costs.
The current cost of assets is their current value, or what it would cost to replace them at this time.
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