The article discusses the shift from historical cost accounting to fair value accounting, focusing on the treatment of acquisition costs for financial assets. In the past, these costs were included in the asset's value, but now they are being expensed. This change reflects the increasing use of fair value accounting standards in the U.S. The paper outlines the historical and current standards for handling acquisition costs, especially in relation to different types of investment securities. The main goal is to highlight the evolution of accounting practices and the impact on financial reporting.