Current cost accounting: Difference between revisions
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''Financial reporting.'' | ''Financial reporting - accounting practices.'' | ||
A basis of valuation in published financial statements drawing mainly on replacement cost accounting techniques, but also on net realisable values and economic values. | A basis of valuation in published financial statements drawing mainly on replacement cost accounting techniques, but also on net realisable values and economic values. | ||
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== See also == | == See also == | ||
* [[Accounting]] | |||
* [[Balance sheet]] | * [[Balance sheet]] | ||
* [[Historical cost accounting]] | * [[Historical cost accounting]] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 23:49, 6 July 2022
Financial reporting - accounting practices.
A basis of valuation in published financial statements drawing mainly on replacement cost accounting techniques, but also on net realisable values and economic values.
Its purpose was to adjust for the effects of inflation on the historic costs of balance sheet items by bringing all items within the accounts to present day values.
