... calculation of net profit reflects choices from among competing theories of accounting None of these theories is simply the truth Like theories of politics, they depend on inherently imprecise ideas ... company’s Earnings Per Share We will show you a graph to this point in a later chapter GAAP: COMPETING THEORIES, MATTERS OF OPINION, POLITICAL COMPROMISES GAAP’s problems are not limited to accruals ... Equity Private Company versus Public Company CHAPTER The Accounting Fog Machine GAAP: Competing Theories, Matters of Opinion, Political Compromises GAAP: Accrual Abuse GAAP: Errors Bred by Complexity...
... and gas exploration by $100 million/year VI Free Cash Flow Theory of Takeovers Free cash flow is only one of approximately a dozen theories to explain takeovers, all of which I believe are of ... diversification programs—making these firms takeover targets CBS’s debt for stock restructuring fits the theory The theory predicts value-increasing takeovers occur in response to breakdowns of internal control ... uneconomic projects is most serious II Evidence from Financial Restructuring The free cash flow theory of capital structures helps explain previously puzzling results on the effects of financial...
... earnest men who held a different view; and, on becoming acquainted with contemporary theology, he found the theological literature of a whole people, the Germans, constructed on another basis; ... polemical theology in the great works of bibliography of the German scholars of the same time, such as Pfaff (Hist Litt Thol.); Buddeus (Isagoge); Fabricius (Delectus Argum.); Walch's (Biblical Theol ... opinions, but only for facts.(49) The attack of Mr Rose on German theology caused replies abroad as well as at home Several German theologians were led to a more careful study of their own history...
... Free Competition, in the Business of Banking 53 Chapter I: The Received Theory of Banking 53 Chapter II: New Theory of Banking, 60 Chapter III: Of a National Bank 75 History ... according to the mercantile theory of political economy, at that time universally prevalent, coin is the only substantial, actual wealth; and as, according to that theory, the great object of ... Britain, and furnished a considerable portion of the circulating medium of the country; but the theory of their operation was not understood As these notes were observed to take the place of coin,...
... Section IV presents the results I EQUITY VALUATION TECHNIQUES A The Dividend Discount Approach The theory of finance describes equity valuation in terms of expected future dividends Formally, Pt ... Journal of Accounting and Economics (June/September, 1992), 119-142 Edwards, E and Bell, P The Theory and Measurement of Business Income Berkeley, CA: The University of California Press, 1961...
... introduce you to the essentials of accounting If you already have a good grasp of basic accounting theory, you can skip these chapters and move on to Chapter 31 | CHAPTER THREE CASH RULES Basic Accounting:...
... critical asset-management issue relates to the management of human capital Renowned management theorist Peter Drucker says that the greatest and most valuable body of capital in advanced economies...