Limitations of Historical Cost Accounting Information under Inflationary Conditions: A Theoretical Study

نوع المستند : تجاریة کل ما یتعلق بالعلوم التجاریة

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قسم المحاسبة، کلية التجارة، جامعة الزقازيق، مصر

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Abstract:
This study discusses the limitations of historical cost accounting information under inflationary conditions by introducing a review of the previous literature on inflation accounting.
         The study concludes that historical-cost financial statements prepared underinflationary conditions could be misleading. Furthermore, inflation impairs the financial accounting role a basis for decision-making. Hence, the need for the adjustment of the historical cost financialstatements to reflect currenteconomic realities becomes inevitable.

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