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. | ||
Revision as of 14:44, 29 October 2020
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.
