Google Answers Logo
View Question
 
Q: Accounting in UK ( Answered 5 out of 5 stars,   0 Comments )
Question  
Subject: Accounting in UK
Category: Business and Money > Accounting
Asked by: nitinsharma09-ga
List Price: $2.50
Posted: 03 Aug 2005 09:05 PDT
Expires: 02 Sep 2005 09:05 PDT
Question ID: 551232
When was current cost accounting (CCA) disclosure no longer required in the UK?
Answer  
Subject: Re: Accounting in UK
Answered By: answerfinder-ga on 03 Aug 2005 09:49 PDT
Rated:5 out of 5 stars
 
Dear nitinsharma09-ga,

It was non-mandatory in 1986 and completely withdrawn in 1988.

KPMG - Global accounting report - UK, IAS and US compared
?The UK standard on current cost accounting, SSAP 16, was suspended in
1985 and finally withdrawn in 1988. At the time of its withdrawal the
ASB?s predecessor, the ASC, re-affirmed its view that where historical
cost accounts were materially effected by changing prices it was
correct in principle to give information about those effects. However,
it did not mandate this; it merely encouraged companies to do so. In
practice very few companies give such information.?
http://www.kpmg.de/library/pdf/Global_Accounting_UK_IAS_US.pdf

Current cost accounting: its role in regulated utilities by Geoffrey
Whittington, 1994
?Current cost accounting (CCA) was an important issue in financial
accounting in the 1980s. In the UK, an accounting standard (SSAP 16,
1980) required supplementary CCA disclosures by large companies, but
widespread noncompliance led to its being made non-mandatory in 1986
and completely withdrawn in 1988. ?
http://www.ifs.org.uk/publications.php?publication_id=2297
http://www.ifs.org.uk/fs/articles/whitting_nov94.pdf

I hope this answers your question (I?m a researcher not an accountant.
So this does not mean much to me). If it does not, or the answer is
unclear, then please ask for clarification of this research before
rating the answer. I shall respond to the clarification request as
soon as I receive it.
Thank you
answerfinder

Search strategy
"current cost accounting " uk disclosure
://www.google.co.uk/search?hl=en&safe=off&q=%22current+cost+accounting+%22+uk+disclosure&btnG=Search&meta=
?SSAP 16?
://www.google.co.uk/search?hl=en&safe=off&q=%22SSAP+16%22&btnG=Search&meta=
nitinsharma09-ga rated this answer:5 out of 5 stars
Excellent response

Comments  
There are no comments at this time.

Important Disclaimer: Answers and comments provided on Google Answers are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Google does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. Please read carefully the Google Answers Terms of Service.

If you feel that you have found inappropriate content, please let us know by emailing us at answers-support@google.com with the question ID listed above. Thank you.
Search Google Answers for
Google Answers  


Google Home - Answers FAQ - Terms of Service - Privacy Policy