What is ad hoc accounting?


Quick Answer

Ad hoc accounting is done for a specific purpose without considering any other issues. Ad hoc comes from the Latin and means "as the occasion requires."

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Full Answer

The ad hoc principle applies to many dimensions in business. There may be an ad hoc committee formed to consider a specific issue, often of an urgent nature. Ad hoc accounting and reporting means that the accounting activity or report is produced to answer a single, specific question without prior planning or notice. Ad hoc analysis often comes in the form of a report or data summary. It is sometimes used to get current data rather than using a static report which may be dated.

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