Inflation Accounting

May 19th, 2015
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Inflation Accounting is a financial reporting procedure which records the consequences of inflation on the financial statements that a company prepares and publishes at the end of the financial year. It is based on the assumption that the currency is stable. But in certain countries this assumption is not valid specially for certain countries which are experiencing hyperinflation and the adjustments are done according to the changes in the purchasing power of the masses.

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convention of accountingA system of accounting that recognizes revenue and matches it with the expenses that generated that revenue. Unlike other systems of accounting, which recognize revenue and expenses in the order in which they are received, the accrual accounting convention ignores the fun

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