Although the basic issue for most businessmen and accountants has been, "Should we account for the effects of inflation?", the question of "how?" is an integral part. The papers in this book examine some of the resulting controversies: What are the proper uses of current value accounting versus price level accounting? Should a general index of the purchasing power of the dollar or specific indices be used? How should corporations account for the gain or loss on long-term debt? While these and other questions were not definitely answered, the papers and responses were provocative and enlightening, sparking new ideas and possible solutions.