Re: Playing Accountant

[Derek A. Neighbors]

> Any time there's a huge bout of inflation in the US, the AICPA tends
> to try to build "yet another reporting standard" on this.  The
> standards tend to be esoteric, and are often barely used since people
> disagree widely on what should be done about them.
>
> But please note the _really_ critical word in that paragraph:  
>               reporting

Yes in my original mail I said reporting.

> If you track expenses using dollars, and attach dates to transactions
> and/or prices, then the problems can get deferred until _reporting_
> time.  The critical thing is to track enough information to make sure
> that reporting can be done unambiguously.

Yes same goes for chart of account changes etc in my book. 

> Quite frankly, the only time anybody plays with the differing
> standards on this is when they are undergoing vast amounts of
> inflation.  A few percent per annum doesn't count :-).

Yes and with recent situations like Russia and Mexico I think that bears
some relevance due to our multi national aspect.  


Derek Neighbors