The Relative Usefulness to Investors of Price-level Adjusted Financial Statements PDF Download
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Author: Patrick Bruce McKenzie
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 294
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Book Description
Author: Patrick Bruce McKenzie
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 294
Get Book Here
Book Description
Author: Patrick Bruce McKenzie
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 256
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Book Description
Author: Frank Alexander Benson
Publisher:
ISBN:
Category :
Languages : en
Pages : 168
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Book Description
Author: Thomas R. Dyckman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 92
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Book Description
Author: Eldon S. Hendriksen
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 152
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Book Description
Author: Alan R. Andreasen
Publisher:
ISBN:
Category : Accounting and price fluctuations
Languages : en
Pages : 648
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Book Description
Author: Edward P. Swanson
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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Book Description
The primary purpose of this paper is to investigate the value relevance of fundamental analysis under the types of economic conditions that commonly occur in developing countries. By considering changes in key components of operating performance (e.g., changes in gross margin or changes in expenses relative to sales), fundamental analysis has the potential to capture more completely the value relevance of accounting information. Despite this potential, the literature on the value relevance of fundamental analysis is very limited in comparison to the vast literature investigating the value relevance of the two key summary measures provided in financial statements: earnings and book value. Furthermore, little is known about the advantage, if any, of fundamental analysis over summary measures in economic settings that are significantly different from that of the United States. This paper uses Mexico as a setting in which to explore further the value relevance of fundamental analysis. Mexico differs from the U.S. in two important respects that may influence the incremental value of fundamental analysis: First, during the 1990s, Mexican businesses had to cope with a rapidly changing business climate. Second, Mexican companies have reported replacement-cost, price-level-adjusted (RCPLA) information in the primary financial statements since 1984. Under RCPLA accounting, all balances reported on the financial statements, including the prior year amounts, are rolled forward into purchasing power at the end of the most recent period.We find that fundamental analysis has incremental value relevance in comparison to earnings. Of particular interest, fundamental signals based on line-item components of the 1994 financial statements, but not earnings, provided value relevant information about the effects of the December 1994 devaluation on the market's expectation about changes in future cash flows. This study makes a direct contribution to understanding the value relevance of fundamental analysis and accounting for changing prices. In addition, the study adds to a recent literature investigating the interaction between economic change and the value relevance of financial statement information.
Author: Bernard G. Ragland
Publisher:
ISBN:
Category :
Languages : en
Pages : 188
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Book Description
Author: R. S. Gynther
Publisher: Elsevier
ISBN: 1483180972
Category : Business & Economics
Languages : en
Pages : 271
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Book Description
Accounting for Price-Level Changes: Theory and Procedures shows the importance of taking actions to incorporate the effects of changing prices into each firm’s accounting systems, and encourage the firms to treat this incorporation as a normal routine. This book shows that prices have in fact been altering over the years, and then explains the problems of changing prices as they affect accounting. Then, this text demonstrates these problems with the aid of a few simple examples. This book also includes statements of professional bodies and proposals that have been advocated. The latter part focuses on other accounting methods and concepts, complemented with illustrative examples. This book will be beneficial to accounting practitioners and those working at business firms.
Author: Arie Baran
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 380
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Book Description
