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It was non-mandatory in 1986 and completely withdrawn in 1988.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1985 and finally withdrawn in 1988.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and completely withdrawn in 1988.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= |