Report of the Committee of Inquiry into Inflation Accounting

The Committee of Inquiry into Inflation Accounting was appointed to assess the merits of alternative accounting standards and methods that might be adopted in New Zealand to reflect the then historically high rates of annual inflation. Following some introductory material, including information on the objectives of accounting, the New Zealand setting, and the attributes of a desirable accounting system, the report evaluates a number of alternative accounting methods, before recommending the adoption of current cost accounting. The pricing, taxation and other economic and public policy implications of the recommended changes are then considered.Abstract by Allegra Crawford