ABSTRACT
The central objective of this monograph is to describe and analyze the uses to which current cost/constant dollar accounting information, of the type currently being made available in accordance with FAS No. 33, as amended by FAS No. 82, may be put uses by management in particular. If the information is useful to management, it should be useful to persons and groups outside the firm as well. Interested outsiders must evaluate the performance of management, often in comparison with the performance of managers of other firms. If current cost/constant dollar accounting information enters into the objective and performance of managers, as I shall argue it does, or should, given normal profit maximizing objectives of the firm through time, the information must be important to outsiders evaluating performance. I shall touch on this outsider interest in this monograph, but reserve a more detailed study of this for another time.
