IMPACT OF INFLATION ON FINANCIAL STATEMENT OF AN ORGANIZATION

Financial statement is an information that shows the summary of state of affairs of an organization. Inflation is phenomenon that sources distortion to a financial statement of an organization. This is as a result of the use of historical cost accounting in preparing the financial statement. The in depth of this project work has been achieved form conducting a comprehensive research on the topic and the following are arrived at in chapters. The introduction was taken care of in chapter one where purpose significant, scope and limitation of studies worked into. Analytically, review of related literature which involves the cause and impact of inflation on financial statement was dealt with in the second chapter of this work. In chapter three research design and methodology which involves sources of data location of data and method of data collection was dealt with. Chapter four dealt with summary of findings and in chapter five, measures were effected and good conclusion was made from the summary of findings developed form chapter aforementioned, which result to reaching reliable recommendations. Bibliography was also included to clearly states the extent the researcher has gone before this work was achieved.