Test Question Inflation Accounting
- What do you mean by Inflation Accounting?
- What are the advantages of Inflation Accounting?
- Discuss the limitations of Historical Accounting.
- What are the various approaches to Price Level Accounting?
- What is Current Purchasing Price Accounting?
- What are the steps involved in Current Purchasing Price Accounting?
- What is Current Cost Accounting?
- Describe the adjustments you need to make while evaluating Current Operating profit?
- Briefly explain the disadvantages of Inflation Accounting.
- What is the advantage of LIFO method of inventory?
Links of Previous Main Topic:-
- Introduction inventory pricing and valuation
- Standard costing introduction
- Management accounting
- Marginal costing
- Relevant cost for decision making
- Budget and budgetary control
- Limitations of historical accounting
Links of Next Finance Topics:-