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Methods Of Accounting For Assets
Beginning of essay
The purpose of this essay is to explore the arguments surrounding the most appropriate method of accounting for assets. The historical cost form of evaluating assets should be used in conjunction with some version of market value. There are advantages and disadvantages for the use of historical ....
Middle of essay
....a historical cost basis or a market value cost.
Many people have attacked the use of historical cost in conventional accounting. The people who defend historical cost have presented the following arguments to support their position.
1. Historical cost is relevant in making economic decisions. - As managers make decisions, they need data on past transactions to help decide on what to do. They must be able to review their past efforts, and the measure of these efforts is historical cost. His.... |
| Number of words: 915 |
Approximate pages: 4 |
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