Making sense of modified historical cost accounts

Article Abstract:

Modified historical cost accounts are being used frequently in Great Britain, but there are no generally accepted accounting principles governing their preparation. The accounts kept by property companies fall well into this type. The fact that there are two kinds of revaluations of asset values has lead to confusion. While directors are not required to revalue, they should have the option of using modified historical cost accounting when it is appropriate.

Innovations, Cost accounting

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Depreciation: the DCF connection

Article Abstract:

Depreciation is for most small businesses a small factor and the expenses may differ within certain limits without materially affecting the accounts. But, for capital intensive businesses, this is not true. Depreciation expenses must be realistic for both the published and management accounts.

Planning, Purchasing, Industrial equipment, Replacement of industrial equipment

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ED 37 - accounting for depreciation

Article Abstract:

SSAP 12 has been evaluated by the Accounting Standards Committee, resulting in a proposed standard - ED 37. Depreciation techniques must be proper for the assets and for business assets. The handling of the balance sheet for profit and loss must be reliable and consistent.

Reserves (Accounting)

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