Accounting for Price-Level Changes—Theory and Procedures


Book Description

Accounting for Price-Level Changes: Theory and Procedures shows the importance of taking actions to incorporate the effects of changing prices into each firm’s accounting systems, and encourage the firms to treat this incorporation as a normal routine. This book shows that prices have in fact been altering over the years, and then explains the problems of changing prices as they affect accounting. Then, this text demonstrates these problems with the aid of a few simple examples. This book also includes statements of professional bodies and proposals that have been advocated. The latter part focuses on other accounting methods and concepts, complemented with illustrative examples. This book will be beneficial to accounting practitioners and those working at business firms.




Accounting for Price-level Changes


Book Description

Accounting for Price-Level Changes: Theory and Procedures shows the importance of taking actions to incorporate the effects of changing prices into each firms accounting systems, and encourage the firms to treat this incorporation as a normal routine.




Value and Profit


Book Description

The measurement methods used in financial accounting affect our perception of the value and performance of businesses by determining the amount of reported profit or loss and the resources of the business. Thus, measurement affects shareholders and other stakeholders in the business. It has even been suggested that the world financial crisis of 2007–2010 was partly due to the mis-measurement of financial instruments. In this book, Geoffrey Whittington provides a unique survey of the theory and practice of measurement in financial accounts. It seeks to define and illustrate alternative methods, using simple numerical examples, and to analyse their theoretical properties. Also, it summarises extensive empirical evidence and the historical development of ideas and practice. It is essential reading for advanced undergraduate and postgraduate students studying financial accounting, as well as practitioners and policy-makers concerned with accounting standards.




Changes in Inventories in the National Accounts


Book Description

The principles underlying the recording of changes in inventories are explained in the System of National Accounts, 1993 (1993 SNA), but operational guidelines on their measurement are lacking. This paper elaborates specific statistical techniques and their underlying assumptions for calculating changes in inventories and holding gains when only data on stocks of inventories are available. Several data situations are considered. The authors propose methods for measuring changes in inventories that meet the 1993 SNA principles. The paper also explores possibilities for implementing the proposed improvements and explains the interpretation of data on changes in inventories.




Inflation Accounting Practices in India's Corporate Sector


Book Description

This Treatise On Inflation Accounting Provides A Detailed Treatment Of Concepts And Techniques Of Inflation Accounting. It Gives A Clear Understanding Of Accounting Data And Their Limitations During Inflation. In This Context, An Attempt Is Made To Underline The Importance Of Inflation Accounting With Particular Reference To A Case Study Of Selected Units.




The Theory of Money


Book Description

Exploring the function of money as a medium of exchange and a store of value, Niehaus provides a comprehensive introduction to the pure theory of money andmonetary policy.




Limitation of Balance Sheet


Book Description

Though Balance Sheet is supposed to exhibit true and fair exposure of a business or enterprise, but due to certain limitations in following the rigidity in accounting principle and ignoring the socio-economic changes, its very objective is defeated. In this book, the author has not only highlighted the limitation but also proposed a new model of Balance Sheet in consideration of the impact of non-financial elements and price level changes in accounting. The book contains ten Chapters. Chapter 1 deals with the object, area and scope of the study. Chapter 2 speaks of the definition and history of balance sheet. Valuation of assets and liabilities is dealt with in chapter 3. Human element being an important ingredient in running as well as earning of a business is incorporated in accounting in Chapter 4. Money value and real value concept is dealt with in Chapter 5. The dupe concept of `true and fair' is presented in Chapter 6. The conflict between tax rule and accounting principle and their impact on balance sheet is explained in Chapter 7. Impossibility of correct interpretation of balance sheet for its inherent limitation is discussed in Chapter 8. Non-financial elements which play vital role in business are dealt with in Chapter 9. In Chapter 10, efforts are made to design a New Model of Balance Sheet by wiping out the shadow of limitation to a great extent.




Fair Value Measurements


Book Description







Advanced Accounting & Taxation - (Advanced Accounting)


Book Description

Advanced Accounting & Taxation (Advanced Accounting) involves complex financial reporting, consolidation, and advanced accounting principles, focusing on in-depth financial statement analysis and reporting practices.