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Current Cost Accounts Statement

  • Roger Oldcorn
Chapter
Part of the Macmillan Professional Masters book series

Abstract

The ‘current cost accounts statement’ is another recent innovation in the published accounts of companies. It is sometimes called ‘accounting for inflation’ which gives a clue as to what it is all about. Accounts prepared on the traditional basis of ‘historic cost’ (see p. 21) suffer from the fact that in some respects they do not adequately reflect the effect of inflation on the value of the business. This document is an attempt to remedy this deficiency. By the end of the chapter you should be able to explain the main items in this statement, and give reasons for their inclusion.

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Copyright information

© Roger Oldcorn 1989

Authors and Affiliations

  • Roger Oldcorn
    • 1
  1. 1.Management Development and Advisory ServiceHenley - The Management CollegeUK

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