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)
KeywordsOperating 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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© Edwin Whiting 1986