kostprijsprincipe

The kostprijsprincipe, often translated as the cost principle or historical cost principle, is a fundamental accounting concept. It dictates that assets should be recorded on a company's balance sheet at their original purchase price or acquisition cost. This cost includes not only the direct price paid for the asset but also any associated expenses incurred to get the asset ready for its intended use, such as transportation, installation, and setup costs.

The primary advantage of the kostprijsprincipe is its objectivity and verifiability. The historical cost is a factual, documented amount that is less susceptible to subjective interpretation or manipulation compared to current market values. This makes financial statements more reliable and consistent. It provides a clear basis for accounting entries and is widely accepted by accounting standards worldwide.

However, the kostprijsprincipe has limitations. Over time, the historical cost of an asset may significantly differ from its current market value due to inflation, depreciation, or market fluctuations. This can lead to assets being undervalued on the balance sheet, potentially misrepresenting a company's true financial position. For certain assets, such as marketable securities, accounting standards may permit or require valuation at fair market value, deviating from the strict historical cost basis. Despite these limitations, the kostprijsprincipe remains a cornerstone of traditional accounting due to its simplicity and objectivity.