In recent years, it seems that businesses adopt customer-oriented marketing strategies. According to the adopted strategies to keep customer satisfaction at the highest level, businesses have been focused to developt new product, to find new customers, to improve distribution and promotion activity etc. Besides, businesses have recognized that they should analize their competitor’s activity and movement to make high profit and growth. Porter's competitive advantage that it is possible to specify the analysis of competitors, canalizes strategy predictors and managers to customer analize and makes the notion popular. These developments have brought the competitors accounting notion which is a new concept as a sub-branch of accounting literature. The aim of this study, to critically evaluate competitor accounting and its basic components competitor cost assessment, competitor position monitoring, competitor appraisal based on published financial statements, strategic costing and strategic pricing.