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Historical Costing

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Historical Costing

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.
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  • November 10, 2021 at 3:43 pm #640368
    maximus07
    Participant
    • Topics: 446
    • Replies: 437
    • ☆☆☆☆

    When we are doing historical costing concept so in inflation our assets are understated and profit are overstated. And vice versa in deflation.
    Am I correct, Professor?

    November 10, 2021 at 4:57 pm #640381
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54804
    • ☆☆☆☆☆

    Yes you are correct (and I explain why in my free lectures).

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