historical cost比较简单，指历史成本。

历史成本一般指会计成本。 会计成本是指企业在经营过程中所实际发生的一切成本。包括工资、利息、土地和房屋的租金、原材料费用、折旧等。

其英文释义如下：

A historical cost is a measure of value used in accounting in which the value of an asset on the balance sheet is recorded at its original cost when acquired by the company. The historical cost method is used for fixed assets in the United States under generally accepted accounting principles (GAAP).

具体而言，历史成本是指企业的各种资产应按其取得或购建时发生的实际成本，比如说某项资产购买时付出的价款是200万，那这200万就是该项资产的历史成本。

replacement cost虽然也有替换的意思，但在财报中一般译为重置成本。

重置成本是指资产按照现在相同或者相似资产所需支付的现金或现金等价物的金额计量；负债按照现在偿付该项负债所需支付的现金或者现金等价物的金额计量。

其英文释义如下：

Replacement cost is a term referring to the amount of money a business must currently spend to replace an essential asset like a real estate property, an investment security, a lien, or another item, with one of the same or higher value. Sometimes referred to as a "replacement value," a replacement cost may fluctuate, depending on factors such as the market value of components used to reconstruct or repurchase the asset and the expenses involved in preparing assets for use. 

重置成本是一种现行成本，它和原始成本在资产取得当时是一致的。之后，由于物价的变动，同一资产或其等价物就可能需要用较多的或较少的交换价格才能获得。因此，重置成本表示当时取得同一资产或其等价物需要的交换价格。这种交换价格应该是从企业资产或劳务市场获得的成本价格，而不是从企业正常经营过程中通常出售其资产或劳务的市场中的销售价格。

重置成本是现在时点的成本，它强调站在企业主体角度，以投入到某项资产上的价值作为重置成本。在实务中，重置成本多应用于盘盈固定资产的计量等。例如，企业在年末财产清查中，发现全新的未入账的设备一台，其同类固定资产的市场价格为40000元。则企业对这台设备按重置成本计价为40000元。

以下为相关双语示例，供参考：

The replacement cost of contracts represents the mark-to-market assets on all contracts (including non-trading contracts) with a positive value and which have not been subject to any bilateral netting arrangement. 

合约之重置成本代表所有按市值重估后具正数值之合约（包括非买卖用途之合约）价值，而该等合约并无作任何双边净额结算之安排。

Leasehold land and buildings held outside Hong Kong on medium-term and short-term renewable leases are held in Mainland China and are stated at Directors’ valuations at 31 March 2004 carried out on the depreciated replacement cost basis. 

海外中期及短期可续租约之租约土地及楼宇皆位于中国大陆，并以董事按折旧后重置成本之准则于二零零四年三月三十一日所作之估值列账。