Definition of current cost accounting in English:

current cost accounting

Line breaks: cur|rent cost ac¦count|ing

noun

[mass noun]
  • A method of accounting in which assets are valued on the basis of their current replacement cost, and increases in their value as a result of inflation are excluded from calculations of profit.
    More example sentences
    • The most successful push for an alternative has been for variations of replacement cost accounting, often referred to as current cost accounting.
    • They discuss the subsequent prescription of current cost accounting principles.
    • Why is current cost accounting the most relevant way of assessing competitive advantage?

More definitions of current cost accounting

Definition of current cost accounting in:

Get more from Oxford Dictionaries

Subscribe to remove ads and access premium resources

Word of the day maelstrom
Pronunciation: ˈmālˌsträm
noun
a powerful whirlpool in the sea