Tag Archives | Changing Prices

Historical Cost Accounting (HCA): Meaning, Benefits and Limitations

In this article we will discuss about Historical Cost Accounting (HCA):- 1. Meaning of Historical Cost Accounting 2. Benefits of Historical Cost Accounting 3. Limitations. Meaning of Historical Cost Accounting: Historical Cost Accounting (HCA), also known as conventional accounting, record transactions appearing in both the balance sheet and the profit and loss account in monetary […]

Comparison between USA’s FAS 33 and UK’s SSAP 16

FAS 33 (USA) and SSAP 16 (UK) differ in the following respects: 1. General Requirements: SSAP 16 calls for a complete profit and loss account and complete balance sheet on a current cost basis that may be presented as supplementary information or as the “main accounts with supplementary historical cost accounts” or as “the only […]

Inflation Accounting in USA, UK and India

In this article we will discuss about inflation accounting in USA, UK and India. Inflation Accounting in United States of America (USA): Accounting bodies in USA have been concerned with the impact of price changes on financial reporting since many years ago However, considerable attention could be given to inflation accounting only in 1969 when […]

Current Purchasing Power Accounting (CPPA)

In this article we will discuss about Current Purchasing Power Accounting (CPPA):- 1. Subject Matter of CPPA 2. Methodology of CPPA 3. Balance Sheet 4. Evaluation. Subject Matter of CPPA: Current Purchasing Power Accounting (CPPA) is known by different names such as Constant Purchasing Power Accounting (CPPA), General Price Level Accounting (GPLA), Constant Dollar Accounting […]

Current Cost Accounting (CCA): Objective and Evaluation

In this article we will discuss about Current Cost Accounting (CCA):- 1. Definition of Current Cost Accounting (CCA) 2. Objectives of CCA 3. Evaluation. Definition of Current Cost Accounting (CCA): Current cost accounting uses “value to the business” as the measurement basis. Value to the business is defined as: (a) Net current replacement cost or, […]

shopify traffic stats