Author: Patrick Bruce McKenzie
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 294
Book Description
The Relative Usefulness to Investors of Price-level Adjusted Financial Statements
Author: Patrick Bruce McKenzie
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 294
Book Description
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 294
Book Description
The Relative Usefulness to Investors of Price-level Adjusted Financial Statments
Author: Patrick Bruce McKenzie
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 256
Book Description
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 256
Book Description
Usefulness of Published General Price-level Adjusted Financial Statements to Investors
Author: Frank Alexander Benson
Publisher:
ISBN:
Category :
Languages : en
Pages : 168
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 168
Book Description
Investment Analysis and General Price-level Adjustments
Author: Thomas R. Dyckman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 92
Book Description
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 92
Book Description
Price-level Adjustments of Financial Statements
Author: Eldon S. Hendriksen
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 152
Book Description
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 152
Book Description
Evaluation of Alternative Methods of Earnings Measurement
Author: Alan R. Andreasen
Publisher:
ISBN:
Category : Accounting and price fluctuations
Languages : en
Pages : 648
Book Description
Publisher:
ISBN:
Category : Accounting and price fluctuations
Languages : en
Pages : 648
Book Description
The Contribution of Fundamental Analysis in the Presence of Inflation and a Currency Devaluation
Author: Edward P. Swanson
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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.
Publisher:
ISBN:
Category :
Languages : en
Pages : 33
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.
An Economic Justification for Price Level Adjusted Financial Statements
Author: Bernard G. Ragland
Publisher:
ISBN:
Category :
Languages : en
Pages : 188
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 188
Book Description
Accounting for Price-Level Changes—Theory and Procedures
Author: R. S. Gynther
Publisher: Elsevier
ISBN: 1483180972
Category : Business & Economics
Languages : en
Pages : 271
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.
Publisher: Elsevier
ISBN: 1483180972
Category : Business & Economics
Languages : en
Pages : 271
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.
Price Level Earnings
Author: Arie Baran
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 380
Book Description
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 380
Book Description