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English definition of “current value accounting”

current value accounting

noun [U]
 
 
(also current cost accounting, also fair value accounting)
ACCOUNTING a method of accounting based on the cost of replacing assets at the prices that would be paid now, rather than at the prices they were originally bought for: Current value accounting can yield results that are materially different from traditional accounting based on historic costs.
(Definition of current value accounting from the Cambridge Business English Dictionary © Cambridge University Press)
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