price-level accounting

price-level accounting
A system of accounting that attempts to take into account changes in price levels, thus avoiding some of the criticisms of historical-cost accounting. There have been many proposed methods but they have not been implemented, often because of the practical difficulties in operating them.

Accounting dictionary. 2014.

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  • price level accounting — Modern method of valuing assets in a financial statement which requires use of gross national product to reflect current values. See also accounting …   Black's law dictionary

  • price level accounting — Modern method of valuing assets in a financial statement which requires use of gross national product to reflect current values. See also accounting …   Black's law dictionary

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  • accounting — An act or a system of making up or settling accounts, consisting of a statement of account with debits and credits arising from relationship of parties. State ex rel. King v. Harvey, Miss., 214 So.2d 817, 819. Rendition of an account, either… …   Black's law dictionary

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