What is the Historical Cost Convention? Under the Historical Cost Convention, assets and liabilities are initially recorded in the accounting system at their original or historical cost and are not adjusted for the subsequent increase in value.
Hybrid costing is a costing system with blends of characteristics from both job costing and process costing.
Homogeneous cost pool is a cost pool in which each activity whose costs are included in it as the same or a similar cause and effect relationship between the cost driver and the costs at that activity.
High-low method is a method of estimating a cost function that uses only the highest and values of the cost driver within the relevant range.