SFAS No. 33 required enterprises to report supplementary information under

Question

Quizplus · Accepted Answer

SFAS No. 33 required enterprises to report supplementary information using both constant dollar and current cost approaches. This was done to provide users of financial statements with additional information to help them understand the impact of inflation on an enterprise's financial position and performance. The constant dollar approach adjusts data for the effects of inflation over time, while the current cost approach reflects the replacement cost of assets and liabilities in today's dollars. Together, these approaches give a more complete picture of an enterprise's financial health in an inflationary environment.

SFAS No 33 Required Enterprises to Report Supplementary Information Under