A method of restating the figures in a balance sheet in another currency using the closing rate of exchange for all assets and liabilities.
Continuously Contemporary Accounting (CoCoA) is a method that evaluates a company's financial position based on its adaptability to changing environments, recognizing general price level changes. Though favored by some academics, it has seen little interest from practitioners.
The cash basis, or cash method, is an accounting approach used by most individual taxpayers that recognizes income and deductions when money is received or paid.
A comprehensive explanation of the Last In, First Out method of inventory accounting, its applications, benefits, and comparisons with FIFO.
