current-cost accounting

current-cost accounting

n
(Accounting & Book-keeping) a method of accounting that values assets at their current replacement cost rather than their original cost. Compare historical-cost accounting
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
The group confirmed Thursday that profit on a current cost of supplies (CCS) basis or current-cost accounting -- which strips out changes to the value of oil and gas inventories -- sank to $16.7 billion from $27.2 billion.
This is the measure, known as the current-cost accounting basis, which
Profit on a current cost of supplies (CCS) basis or current-cost accounting -- which strips out changes to the value of oil and gas inventories -- was set to plunge 70 per cent to about $2.2 billion (e1/41.6 billion) in the three months to December, from $7.3 billion a year earlier.

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