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Current cost accounting |
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Current cost accountingA system designed to adjust accounting for changes in prices that affect a company's assets. The more usual convention is historical cost accounting.Similar MatchesGenerally Accepted Accounting Principles (GAAP)Generally Accepted Accounting Principles (GAAP)The overall conventions, rules, and procedures that define accepted accounting practice at a particular time in the U.S. Statement of Financial Accounting Standards No 8Statement of Financial Accounting Standards No 8The is a currency translation standard once used by U.S. accounting firms. See: Statement of Accounting Standards No. 52. Accounting liquidityAccounting liquidityThe ease and quickness with which assets can be converted to cash. Inflation accountingInflation accountingAccounting practices allowing for the effects of inflation. Historical Cost Accounting ConventionHistorical Cost Accounting ConventionAn accounting technique that values an asset for balance sheet purposes at the price paid for the asset at the time of its acquisition. Further SuggestionsPurchase accountingAccounting Standards Board Accounting earnings Average accounting return Statement of Financial Accounting Standards No 52 accounting reference date Financial Accounting Standards Board (FASB) Replacement cost accounting Regulatory accounting procedures (RAP) Accrual Accounting Convention Growth accounting Accounting insolvency Cost accounting |
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