HC Deb 22 May 1978 vol 950 c399W
Mr. Cronin

asked the Secretary of State for Trade what progress has been made on obtaining the general acceptance of current cost accounting as a basis for company reports.

Mr. Clinton Davis

The Stock Exchange has endorsed the interim recommendation on inflation accounting by the Accounting Standards Committee, and many large companies have recently included a statement in their annual accounts showing adjustments as recommended in these ASC guidelines. This is only a first step; work is also continuing under the aegis of ASC on the preparation of a current cost accounting standard.

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