An accounting method (valuation method) that uses current cost as a measure of value. It is designed to realistically enhance and improve book values (BV) by valuing assets at current market prices (current acquisition prices, fair market value or current replacement cost) rather than original cost (i.e., historical cost (HC)), while increases in the value of assets due to inflation are not considered in profit calculations (though it captures the effect of inflation on asset/ liability values).

This method is based on the accounting concept of going concern, whereby an entity continuously replaces its assets over time. For a manufacturing entity, assets and input/ materials used in production are valued using current cost accounting at their actual or estimated current market prices at the time of production.

It is known for short as CCA.