Ad hoc accounting is performed for a specific purpose and disregards any other difficulties. The Latin term ad hoc means “as the situation requires.”
The ad hoc idea relates to numerous business dimensions. An ad hoc committee may be constituted to examine a particular, frequently pressing situation. Ad hoc accounting and reporting means that the accounting activity or report is prepared without prior planning or notice to answer a particular, specific question. Typically, ad hoc analysis takes the form of a report or data summary. Occasionally, it is utilised to obtain current data rather than a static report that may be out-of-date.
