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Volume :11 Issue : 4 1983      Add To Cart                                                                    Download

The impact of inflation on the accounting thought Inflatory accounting and model for

Auther : N .Nammer

There are mainly two inflatory accounting approaches ;1.general price level accounting. 2.current – value accounting owing to the wide argument in accounting literature around these two approaches, are could be with against Any of them. It seems to me that the best way to deal with the impact of inflation on accounts , and financial statements, is to find a method that mixes between the suitable parts of both approaches. The conclusions are :1.Monetary items ( money , payable, receivables) These items need no adjustment , as they should be expressed in nominal units .but we must use general price index to determine profits or losses of general price – level , and add them to the income. 2.Non –monetary Items: The best way to measure the impact of inflation on non monetary assets of specific company , is recognize the changes in the price assets, on condition that this should be accomplished objectively and by choosing a suitable method for each asset. 3.Rolling – forward : the financial statement of the pervious years :It is very  essential to roll forward the adjusted financial statement so as to compare financial statements for different years .

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