A Study of the Implementation of Current Cost Accounting in the Republic of Korea Army Procurement Systems.
NAVAL POSTGRADUATE SCHOOL MONTEREY CA
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This thesis examines the methods proposed and employed to recognize the effects of inflation in financial reporting in Republic of Korea Army ROKA procurement. A discussion of the nature of the ROKA procurement system and two alternatives to historical cost financial statements are presented. The concepts, methods and procedures of the historical costconstant dollars financial statements are described. The proposal for current costconstant dollars financial statements is presented and emphasis is given to the description of four problems in existing ROKA procurement due to using inadequate accounting information. Keywords Cost accounting, Procurement, Current cost accounting system, Inflation, Physical capacity, Purchasing power gain, and Holding gain.
- Economics and Cost Analysis