A method of accounting in which assets are valued on the basis of their current replacement cost, and increases in their value as a result of inflation are excluded from calculations of profit.
- ‘They discuss the subsequent prescription of current cost accounting principles.’
- ‘They indicated that rather than attempt to revise all of the historical cost accounting groundwork, most firms should merely attempt to modify their current cost accounting systems.’
- ‘There have been several forms of current cost accounting, purchasing power accounting and so on since the mid 1970s that have been proposed as alternatives.’
- ‘The most successful push for an alternative has been for variations of replacement cost accounting, often referred to as current cost accounting.’
- ‘Why is current cost accounting the most relevant way of assessing competitive advantage?’