![Inside the Long Itchington Wood HS2 tunnel](https://accountingcafe.org/wp-content/uploads/HS2-VL-41500-220523_HS2_BBV_SL1a_LI_JZ_000106-150x150.jpg)
Accounting during periods of general inflation
Historical cost accounting has its advantages but presents serious problems in periods of inflation. In Autumn 2022, the board in charge of the £100bn project to build HS2, the UK’s high speed railway, was criticised for using 2019 prices to report its current spending. This had the effect of reducing…Read more
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