Acronyms that contain the term cost principle
What does cost principle mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: cost principle.
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What does cost principle mean?
- Cost principle
- In accounting, the cost principle is part of the generally accepted accounting principles. Assets should always be recorded at their cost, when the asset is new and also for the life of the asset. For instance, land purchased for $30,000 is appraised at the much higher value because the housing market has risen, but the reported value of the land will remain $30,000.
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"cost principle." Abbreviations.com. STANDS4 LLC, 2023. Web. 7 Dec. 2023. <https://www.abbreviations.com/cost%20principle>.