Consistency in allocating costs incurred for the same purpose by educational institutions, and Chief Accountant. The basis for the capital assets should be historical. The replacement value of capital assets should be recorded separately and opportunity costs should not be recorded as part of the official accounting records. All transactions, either cash or accrual basis, should be recorded at historical costs.
Historical cost is the net cash paid for an expenditure or the capitalized value of an asset.
Estimated transaction is an accounting transaction which is probably going to take place and the dollar amount of the transaction can be reasonably estimated. Accrual document is a document used to record an accounting transaction that does not affect cash. There should not be any additional amounts added to the historical costs.