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Is there any difference among the historical cost and the book value of a fixed (long-lived) asset ?

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Question added by Deleted user
Date Posted: 2015/07/23
Sami Albakri
by Sami Albakri , head of accounting , مساعد السيار للتجارة

Yes. Historical cost is the cost of acquiring an asset. 

Book value of the same asset can be, for example:

Histrocal cost - Accumulated depreciation/amortizition

Note:

-There is different methods to assign value to an asset in the balance sheet

- A the time of acquisition Histical value = Book value becuase there is no Acc depreciation counted yet  

Nitin Pradhan
by Nitin Pradhan , Manager - Sales & Commercial , Metafrique Group

There is a difference. Historical cost is the cost at which the asset was procured. Book value is the depreciated cost.

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