Historical CostingForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Historical CostingThis topic has 1 reply, 2 voices, and was last updated 2 years ago by John Moffat.Viewing 2 posts - 1 through 2 (of 2 total) AuthorPosts November 10, 2021 at 3:43 pm #640368 maximus07ParticipantTopics: 446Replies: 437☆☆☆☆When we are doing historical costing concept so in inflation our assets are understated and profit are overstated. And vice versa in deflation. Am I correct, Professor? November 10, 2021 at 4:57 pm #640381 John MoffatKeymasterTopics: 56Replies: 53806☆☆☆☆☆Yes you are correct (and I explain why in my free lectures).AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In