Purchasing power parity is most popularly known as the PPP. It may be defined as the measure of the prices of the various countries which makes use of the price of some specific goods in order to compare the absolute purchasing capability or power for the countries' currencies.
It is used to measure and compare prices at different locations.
The purchasing power does not hold good in the short to the medium run as different countries produces different goods and as such all the goods are not internally traded all over the locations or countries.
The personnel, procedures, devices, and records used by an entity to develop accounting information and communicate this information to decision makers.
Explanation:
Accounting system is a system used to organise financial information. Accounting system can be manual or electronic
