Current-cost

The valuing of an asset at the prices prevailing at the time the valuation is made. It incorporates the effects of both depreciation and the changes in the market prices of that type of asset. For example, the 2010 current-cost estimate for an asset is based on the price that would have been paid to acquire that asset in 2010, and the 2011 current-cost estimate for that asset is based on the price that would have been paid to acquire that asset in 2011.