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Whatis,Historicalcost,Historicalcost,Historicalcostisagenerallyacceptedaccountingprinciplerequiringallfinancialstatementitemsbebaseduponoriginalcost.Historicalcostmeanswhatitcostthecompanyfortheitem.Itisnotfairmarketvalue.Thismeansthatifacompanypurchasedabuilding,itisrecordedonthebalancesheetatitshistoricalcost.Itisnotrecordedatfairmarketvalue,whichwouldbewhatthecompanycouldsellthebuildingintheopenmarket.,Inaccounting,historicalcostistheoriginalmonetaryvalueofaneconomicitem.Historicalcostisbasedonthestablemeasuringunitassumption.Insomecircumstances,assetsandliabilitiesmaybeshownattheirhistoricalcost,asiftherehadbeennochangeinvaluesincethedateofacquisition.Thebalancesheetvalueoftheitemmaythereforedifferfromthetruevalue.,Historicalcost,Historicalcostbasis(originalcost),Underthehistoricalcostbasisofaccounting,assetsandliabilitiesarerecordedattheirvalueswhenfirstacquired.Theyarenotthengenerallyrestatedforchangesinvalues.CostsrecordedintheIncomeStatementarebasedonthehistoricalcostofitemssoldorused,ratherthantheirreplacementcosts.,Thehistoricalcostaccountingisthesituationinwhichaccountantsrecordrevenue,expenditureandassetacquisitionanddisposalathistoricalcost:thatis,theactualamountsofmoney,ormoneysworth,receivedorpaidtocompletethetransaction.,Thehistorical,costaccounting,Alternatives,Replacementcosts,OneofthecurrentassetvalueTheestimatedamountthatwouldhavetobepaidinordertoreplacetheassetasthedateofvaluation.Apossiblealternativetohistoricalcostmethod.,Advantageanddisadvantage,advantage：itfocusesontheservicestheassetwillprovideratherthantheprecise（古板的）physicalasset.disadvantage：Thecostshavetobeestimatedsoitisnotveryobjective.Italsodoesnotprovidethevariouschoicesandfeaturesthathistoricalcostaccountinghastooffer.,Howishistoricalaccountingbetterthanalternatives?,Historicalcostisthestandardformofaccountingstill.accountantsarereluctanttopricetheassetsatcurrentmarketvalue.Underhistoricalcostaccountingthereisnoroomformanipulationbecausethedataissupportedbyevidence.withasignificantrangeofalternativesinrecognizing,reportingandmeasuringeconomicinformation.historicalcostisbasedonrecordingactualtransactionsandthefiguresarereliable.Financialstatementsbasedonhistoricalcosthavebeenfoundtobeuseful.,GainfromEuropeanlocation:,Europeanisfamousforitstourism;EuropeisneartheMiddleEastandAfrica,Disadvantages,TheEuropeanfounditharderthantheAmericanstoraisemoneyandrecruitstaff.Infinance，Europeanwantedtoseeprovenassetsandaprovencashflow。HiringgoodstaffprovedtobeanotherprobleminEuropeLackoftalent，AlthoughWesternEuropesuffersfrom10percentunemploymenttechnicalstaffsuchasWebdesignersisrare.theAmericanshadanadvantagebecauseportalsaremuchlessdevelopedinEurope.TheEuropeansfacedothermountingpressures.Theirinvestorswantedtoseeaprofit.,Question3,WhatcanEuropeanpolicymakersdotoimproveopportunitiesavailabletostart-upcompanies?WhatcanUSpolicymakersdotoencouragethegrowthofsuchcompanies?,Firstly,Ashavinganalyzedfromthecase,weseethatEuropeanRent-a-holidayisdefeatedbyAmericanVacationS,bycontrastofwaysinoperatingcompany,wefindtherearesomedifferentiationswhichcauseEuropeansfailures:,Firstly,1.Atthebeginningofthestart-upperiodforthecompany,whenfacingtheshortageofcashflows,Europeanswayistoraisemoneyindirectinvestmentthroughcash,whileAmericanspreferwithfinancialoptions.,Firstly,2.Inthewayofhiringemployees,VacationSattractsmoregoodstaffsthreetimesthanRent-a-holiday.Duetothedifferentnationsconceptions,EuropeansprefertoastableandcomfortablewelfareinsuchacompanylikeIBMwhileAmericanslikemorechallengesandpressures.Inaddition,motivationwelfarepoliciesdifferfromtwocompanies;AmericansconsidermoreontheemployeessalaryandstockoptionswhileEuropeansdolessconsideration.,Firstly,3.AsInternetpossessesinitiation,itisfamousaroundtheworldandownsalotofcustomerstosearchin,thehighertrafficisabsolutely.Itsbrandandpotentialgoodwilliswell-knownbytheworldwideusers.However,fortheEuropeansideasofinvestment,theyareconcentratedinarushprofitinsteadofAmericanslongtermplan.,Secondly,ThenthroughtheanalyzedfailuresforEuropeans,wecandiscusswhatEuropeanpolicymakerscandotoimproveopportunitiestostart-upcompaniesbetter,someinnovativesuggestionsaregivenasfollows:,Secondly,1.EuropeanspolicymakerscanencouragethePortfolioinvestment,increasetheprofitlikeIRRordecreasetheriskforinvestorsfromit,meanwhile,theycanraisethedebtrateforbanks,andinthisway,thereisalowerprofitincashinvestment,Secondly,2.Bythesecondfailure,themakerscanmakethelawstoforcecompaniestoincreasesalaryandgiveaseriesofstockoptionsforemployees.Thentheycanstrengthentheeducationtodevelopmoretechnologicalgoodstaffstosatisfycompaniesdemands.,Secondly,3.Inthistip,Ithinkitrelatestothebrand,theEuropeanpolicymakersmustaimtohowtoimprovetheirdomesticcompaniesbrandlikeimportmanygoodskills,usingthewayofinternationallicensingorfranchisingtoattachtoattractinvestors.,Thirdly,WhenreferstoUSpolicymakers,astheirweaknessintheEuropeanmarket,theydidhavefewlistings.SinceEuropeaninvestorsaredifficulttopleaseandtheypreferarushprofit,USpolicymakersshouldmakeanadaptionintothelocalculture,forcecompaniestohavetrainingforaoverallknowledgeoftheEuropeancultureandmakeactionswhichtheylike.,
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