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KMID : 0615219910160010105
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Journal of Kwangju Health
1991 Volume.16 No. 1 p.105 ~ p.130
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A Study on Accounting Reponses to Changing Price with Emphasis on Current Cost
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鄭泰鍾
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Abstract
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Nowadays, the historical cost based on accounting treatment under the present inflation conditions has greatly injured the usefulness of accounting information and the comparability.
The accounting method meeting various price changes has been studied, developed, introduced in order that users of accounting information are able to make their rational decisions since the effect of price changes has been reflected in financial statements.
In this thesis we unfold the accounting theory in comparison with General pricelevel accounting, Replacement cost accounting, Current value accounting, and Integration of GPLA-CCA, related cost accounting theory mainly on current cost accounting generally accepted in advanced country after the Sandilands Reports ;
1) taking serious view of value to the business as market value concepts.
2) applying deprival value to the basic concepts of assets evaluation.
3) considering that it´s reasonable to apply the information based on the price in accounting treatment rather than that based on historical cost.
4) choosing capital maintenance concepts of income measurement.
Then, as the application plan, we practice depreciation adjustment. monetary working capital adjustment and liabilities adjustment accounting to statement of standard accounting practice No. 16 cost accounting on historical cost accounting financial statement, and I suppose that according to suitable matching costs with revenue, current cost accounting furnish the most useful accounting information of all the accounting methods, maintenance of managerical capital, price determination, cost management, dividend policy, debt to equity ratio etc.
In conclusion, I suggest that we should study, reexamine current cost accounting and apply it to practical affairs, suitable economic conditions of ournation, and need to have to progressive introduction of supplementary data disclosure on finsncial statements.
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