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Accounting and Inflation

Author: Ciubotaru Victoria
Degree:doctor of economics
Speciality: 08.00.12 - Accounting; Audit; Economic Analysis
Scientific adviser: Vasile Bucur
doctor habilitat, professor, Academy of Economic Studies of Moldova
Scientific council:


The thesis was presented on the 16 April, 2009
Approved by NCAA on the 18 June, 2009


Adobe PDF document0.38 Mb / in romanian


CZU 657.1+336.748.12(478)(043)

Adobe PDF document 1.13 Mb / in romanian
186 pages


Inflation, hyperinflation, consumer price indices, rate of inflation, conversion factor, historical cost, current value, prudence principle, non-monetary property items, monetary property items, significantly inflated property items, insignificantly inflated property items, evaluation and recognition under (hyper)inflation, methods of inflation accounting, reserves from adjustment to inflation, reserves for capital maintenance, gains (losses) from net monetary position.


The thesis approaches inflation through its general features and consequences on accounting, examines the dynamics of inflation in the Republic of Moldova in the period from 1991 until present time, which made it possible to divide this period into corresponding stages with their inherent characteristics and features.

The question of credibility of accounting information provided by historical cost accounting was raised, because historical cost remains the most adequate basis for evaluation under a stable economy and the most inadequate under an inflationary economy.

The effects of inflation upon accounting evaluation and financial reporting of assets, liabilities, owner's equity, incomes, expenses and financial results of the enterprise were subject to analysis, by applying the actual rates of inflation from the Republic of Moldova in 2001-2007.

The inefficiency of using palliatives of accounting and fiscal nature (accelerated depreciation methods for fixed assets, methods for evaluating of inventory stocks, admissible alternative methods of evaluation in financial reporting) by enterprises in order to remove the negative effects of inflation was demonstrated by necessary calculations.

The application of prudence principle in reporting property items in economies under (hyper)inflation and its criticisms were subject to examination.

A re-definition and classification of entities’ property items depending on their sensibility to changing prices was argued and grounded, and models of adjusting claims, debt, income and expenses to (hyper)inflation were proposed.

The effects of inflation on revenues, expenses and financial results of the enterprise were given a special analysis; the necessity to recognize the adjusted to inflation financial result, reported according to I.A.S. 29 “Financial reporting in the hiperinflationary economies” was economically grounded. Methodology of adjusting the property items to inflation, as part of the comparative study of conversion method, current value method and the mixed method of inflationary accounting, was developed. There were outlined problems related to practical application of these methods, as well as the way of recording in accounting the results of adjusting the reported property items to (hiper)inflation by the enterprises of the Republic of Moldova.