When historic cost became misleading because of inflation, other bases of accounting were invented in an attempt to produce profit and loss statements that were ‘translated’, ‘adjusted’ or ‘corrected’ for inflation. In 1973 the two main contending bases were:
  • current purchasing power (CPP)

  • current cost accounting (CCA)


Operating Capability High Inflation Current Cost Replacement Cost Cost Basis 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Edwin Whiting 1986

Authors and Affiliations

  • Edwin Whiting

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