Home  Journals  International Accounting  4(124) - 2009 April

Evaluation of financial statement in inflation

Available online: 17 September 2009

Subject Heading: Statement reformation

JEL Classification: 

Availability of inflation processes in economics against the background of developing world financial crisis entails inflation rates. In existing conditions financial statement presented by organizations does not already meet requirements of reliability and comparability of data and does not give reliable and complete idea about property and financial position of organization and financial results of activity. In order for data in financial statement reflect As-Is state of an economic entity according to level of inflation it is necessary to recalculate it with regard to stable currency (when recalculation of indexes under each transaction into hard currency according to the current exchange rate is ensured) or under changes of price index.

Keywords: inflation, accounting, statement, reliability, comparability, recalculation, currency, price index

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ISSN 2311-9381 (Online)
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