Disclosures of Inflation Accounting Information
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Disclosures of Inflation Accounting Information

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Published by Amer Inst of Certified Public .
Written in English

Book details:

The Physical Object
ID Numbers
Open LibraryOL7723605M
ISBN 100686842952
ISBN 109780686842958

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Inflation Accounting: The SEC Proposal for Replacement Cost Disclosures On Aug , the Securities and Exchange Commission (SEC) entered the inflation ac-counting arena with a proposal that might be called revolutionary.' This article examines the im-plications of that proposal for the analysis of fi-nancial statements. The SEC proposes. In practice inflation accounting creates illusionary or imaginary profit which does not exist, thus capital maintenance concept is just a paper theory because much of the profit under inflation. Disclosures of Forward-Looking Information Segment Disclosures Social Responsibility Reporting Accounting for Foreign Inflation: A Case Analysis This book is written with the express purpose of introducing students to the interna-.   Inflation accounting is the process used to factor massive price increases into an organization’s financial statements. When there is a significant amount of price inflation or deflation, the impact on the financial statements of a company operating in that environment can be so severe that the value of the information in the statements.

Based on the findings the study recommends additional inflation disclosure in Nigeria using general purchasing power accounting. This will enhance the information quality of current reporting practice. The findings of this study would be of relevance to accounting establishments and in particular, the Nigerian Accounting Standard Board, in. Inflation accounting has its own merits and demerits due to which the use of inflation accounting is not still very much prevalent in the industry. But as the time will progress there is no doubt that inflation accounting will speed up and the development will lead to the future of accounting which is inflation accounting. The inflation accounting has an inbuilt and automatic mechanism to match the cost and revenue at current values. Salient Features: From the above definition, the salient features of Inflation accounting may be listed as follows: 1. The inflation accounting has an inbuilt and automatic recording procedure.   ACCOUNTING AND DISCLOSURE INFORMATION (ADI) This page is intended to be an aid to practitioners and others who are interested in the law and interpretations concerning disclosure. The intent is to gather into one webpage various resources in areas that may be of interest. Below are several topics about which the Disclosure Review and Accounting.

What is inflation accounting? In the U.S., inflation accounting has resulted in optional supplementary disclosures on the effects of 1) general inflation, and 2) changes in the prices of specific types of assets. In other words, the main financial statements continue to report only the traditional, historical cost amounts without any adjustment for changing prices. Get this from a library! Illustrations and analysis of disclosures of inflation accounting information: a survey of the application of the requirements of FASB statements nos. 33, 39, 40, and [Hortense Goodman; Financial Accounting Standards Board.; American Institute of Certified Public Accountants.;].   In the United States, the first statement issued by FASB that set the standard for reporting the effects of inflation on business enterprises was Statement of Financial Accounting Standards No. 33 (FAS33), Financial Reporting and Changing Prices, in   Empirical assessments of inflation-adjusted accounting information have yielded little evidence that these costly disclosures impart useful information. However, most of these studies attempt to discern effects on markets and ' Ashton () & Libby () discuss the importance of judgment agreement as it relates to judgment accuracy.