Approaches to the Price Level Accounting Assignment Help

Posted on May 4, 2017

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Price tends to change and do not remain constant over a period of time due to various social, economic and political factors. Two types of economic conditions are caused due to change in price levels- inflation and deflation. These changes in priced levels lead to inaccurate presentation of financial statements. Price level accounting can also be called as ‘Inflation Accounting’ because prices are usually changing on the higher side. It is a method of accounting in which the transactions are recorded at prevailing value and the impact on the accounting transaction due to changes in the prices is neutralized and pointed out along with transactions recorded on historical cost concept. Students having various queries regarding approaches to the price level accounting shall refer Approaches to the Price Level Accounting Assignment Help.
 

Objectives of Accounting for Price Level Changes given by Approaches to the Price Level Accounting Assignment Help are

 
• To give a true and fair view of the profit or loss of the company.
• To show the current financial position.
• To show the actual value of fixed assets recorded in financial statements.
• To generate funds for replacement of fixed assets by providing for sufficient depreciation.
• To show the actual capital employed.
• To make a differentiation between holding gain or loss and operating gain or loss.
• To increase the reliability of the accounting records for the users of such records.
 

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Advantages and disadvantages of Price Level Accounting

 

Some of the advantages of Price Level Accounting given by Approaches to the Price Level Accounting Assignment Help are
 
• The real profits can be determined with the help of accounting for price level changes.
• Inflation accounting helps in solving the problem of non-reporting of true and fair view.
• Accounting for price level changes help in real assessment of performance of an enterprise in inflationary situations.
• It is more realistic return on investment as it provides precise picture of profitability by matching current revenue with current cost.
Some of the limitations of Price Level Accounting given in Price Level Accounting Assignment Help are-
• It is very difficult to estimate the true replacement cost of any fixed asset as it suffers fro the problem of subjectivity.
• Accounting work becomes more complicated and complex as all the methods of accounting for price level changes involves series of calculation.
• It has been observed that all the methods of accounting for price level changes have an element of subjectivity.
• Inflation accounting is complicated and time consuming as it requires heavy calculation.
• This method is unsuitable for taxation purpose.
 

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• Materials and data are provided for easier approach.
• Experienced professionals deal with the subject.
 
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