First, there was the problem of accounting for derivatives, which without additional guidance would be measured at historic cost. (accountingonion.com)
The response stated that the proportion of new standard fees assigned to travel and waiting times was based on historic costs. (newlawjournal.co.uk)
Under GAAP, income - producing real estate is carried on the balance sheet at depreciated historic cost less impairments, if any; income statements reflect periodic charges for depreciation. (mjwhitman.pressbooks.com)