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March 18, 2026The Accounting Review

On the Feasibility of Developing Current Cost Information.

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Authors

DCDonald A. CorbinUniversity of Hawaii System

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Implication

This article explores current cost information in financial reports, suggesting implications for objectivity and accounting practices.

Key Points

  • The article explores the feasibility and importance of obtaining current cost information for improving financial reports.
  • Discussion of current practices in accounting for determining market values under the lower of cost or market rule.
  • Review of authoritative statements from the 1960s related to current costs and accounting principles.
  • Current cost determination is viewed as challenging and subjective by many accountants.
  • The goal of objectivity in accounting has not been fully achieved, as shown by inconsistent practices in depreciation and other cost allocations.

Cite This Study

Donald A. Corbin (1967) studied this question.

synapsesocial.com/papers/69ba43b64e9516ffd37a53f7https://doi.org/10.2308/tar-4511731
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1Current Cost for Long-Lived Assets: A Critical View.1969
  2. 2Current and Historical Costs in Financial Statements.1966
  3. 3THE DIRECT COSTING CONTROVERSY--AN IDENTIFICATION OF ISSUES.1964
  4. 4An Empirical Test of a Model Proposed by Chambers.1971
  5. 5ASSET RECOGNITION AND ECONOMIC ATTRIBUTES--THE RELEVANT COSTING APPROACH.1962