Inflation Accounting: Need, Merits and Demerits | Accounting
In this article we will discuss about:- 1. Need for Inflation Accounting 2. Merits of Inflation Accounting 3. Demerits. Need for Inflation Accounting: Accounting is based on the traditional concept of cost and revenue. Money is the yardstick for measuring profits and losses and financial health of the business — operating results and financial position. The basic objective of accounting [...]