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Investigation Of Market Values And Accounting Numbers
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Book Synopsis Investigation of Market Values and Accounting Numbers by : Victoria Clout
Download or read book Investigation of Market Values and Accounting Numbers written by Victoria Clout and published by LAP Lambert Academic Publishing. This book was released on 2010-02 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study seeks to resolve a gap in the Capital Markets research literature by examining 30 selected individual firms listed on the Australian stock market during the period 1950 to 2004, using equilibrium correction modelling techniques. What little research has been conducted on this historical data has used cross-sectional techniques rather than the long-run, time-series, analysis as used in this study. Moreover, dynamic analysis in the CMR has tended to focus on indexes or portfolio data rather than using firm-specific case study data of the type modelled here. No prior research has taken this approach using Australian data. The results of this study indicated that an equilibrium correction relationship between market values and accounting numbers for firms listed on the Australian Stock Exchange (ASX) could be determined by using accounting and macroeconomic regressors.
Book Synopsis Fair Value Measurements by : International Accounting Standards Board
Download or read book Fair Value Measurements written by International Accounting Standards Board and published by . This book was released on 2006 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Investigating the Relationship Between Accounting Numbers and Market Values in Relation to Significant Regulatory Events in Australia and the United States by : Samuel Alexander Clarke
Download or read book Investigating the Relationship Between Accounting Numbers and Market Values in Relation to Significant Regulatory Events in Australia and the United States written by Samuel Alexander Clarke and published by . This book was released on 2012 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Accounting Numbers and the Market Value of Equity by :
Download or read book Accounting Numbers and the Market Value of Equity written by and published by . This book was released on 2017 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Valuation for Financial Reporting by : Michael J. Mard
Download or read book Valuation for Financial Reporting written by Michael J. Mard and published by John Wiley & Sons. This book was released on 2007-10-19 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essential procedures for the measurement and reporting of fair value in Financial statements Trusted specialists Michael Mard, James Hitchner, and Steven Hyden present reliable and thorough guidelines, case studies, implementation aids, and sample reports for managers, auditors, and valuators who must comply with the Financial Accounting Standards Board Statement of Financial Accounting Standards Nos. 141, Business Combinations; 142, Goodwill and Other Intangible Assets; 144, Accounting for the Impairment or Disposal of Long-Lived Assets; and the new 157, Fair Value Measurements. This important guide: * Explains the new valuation aspects now required by SFAS No. 157 * Presents the new definition of fair value and certain empirical research * Distinguishes fair value from fair market value * Provides a case study that measures the fair values of intangible assets and goodwill under SFAS Nos. 141 and 157 * Includes a detailed case study that tests the impairment of goodwill and long-lived assets and measures the financial impact of such impairment under SFAS Nos. 142 and 144 * Cross-references and reconciles the valuation industry's reporting standards among all of the valuation organizations * Includes two sample valuation reports, one of which is a new USPAP- compliant PowerPoint? presentation format * Includes implementation aids for controlling the gathering of data necessary for analyses and for guiding the valuation work program
Book Synopsis Corporate Valuation by : Benedicto Kulwizira Lukanima
Download or read book Corporate Valuation written by Benedicto Kulwizira Lukanima and published by Springer Nature. This book was released on 2023-08-04 with total page 717 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides students with basic knowledge and advance skills for addressing practical challenges in valuation. First, the book presents financial information as a vital ingredient for performing corporate valuation. Second, the book presents key concepts of value and valuation and basic techniques for cash flow discounting. Third, the book offers an understanding of the reality of valuation, not simply as a numerical subject, as most people tend to think, but as a combination of objective and subjective aspects. Finally, it examines valuation in relation to the linkage between a firm’s objective, management role in value creation, investors’ decisions, and the valuation role of financial information. This book is designed and presented to make valuation easily accessible while also not diluting the nature of its complexity. To assist in the learning experience, the author provides illustrative case studies using real world data and review questions to cover all concepts. To assist professors, slides, Microsoft Excel illustrations, working data and sample syllabi are available online for download.
Book Synopsis The End of Accounting and the Path Forward for Investors and Managers by : Baruch Lev
Download or read book The End of Accounting and the Path Forward for Investors and Managers written by Baruch Lev and published by John Wiley & Sons. This book was released on 2016-06-14 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: An innovative new valuation framework with truly useful economic indicators The End of Accounting and the Path Forward for Investors and Managers shows how the ubiquitous financial reports have become useless in capital market decisions and lays out an actionable alternative. Based on a comprehensive, large-sample empirical analysis, this book reports financial documents' continuous deterioration in relevance to investors' decisions. An enlightening discussion details the reasons why accounting is losing relevance in today's market, backed by numerous examples with real-world impact. Beyond simply identifying the problem, this report offers a solution—the Value Creation Report—and demonstrates its utility in key industries. New indicators focus on strategy and execution to identify and evaluate a company's true value-creating resources for a more up-to-date approach to critical investment decision-making. While entire industries have come to rely on financial reports for vital information, these documents are flawed and insufficient when it comes to the way investors and lenders work in the current economic climate. This book demonstrates an alternative, giving you a new framework for more informed decision making. Discover a new, comprehensive system of economic indicators Focus on strategic, value-creating resources in company valuation Learn how traditional financial documents are quickly losing their utility Find a path forward with actionable, up-to-date information Major corporate decisions, such as restructuring and M&A, are predicated on financial indicators of profitability and asset/liabilities values. These documents move mountains, so what happens if they're based on faulty indicators that fail to show the true value of the company? The End of Accounting and the Path Forward for Investors and Managers shows you the reality and offers a new blueprint for more accurate valuation.
Book Synopsis An Investigation of the Use of Accounting Numbers in the Regulation of Bank Capital by : Paul David Kimmel
Download or read book An Investigation of the Use of Accounting Numbers in the Regulation of Bank Capital written by Paul David Kimmel and published by . This book was released on 1989 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Relation between Market Values, Earnings Forecasts, and Reported Earnings by : Gerald A. Feltham
Download or read book The Relation between Market Values, Earnings Forecasts, and Reported Earnings written by Gerald A. Feltham and published by . This book was released on 2000 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, much of the research into the relation between market values and accounting numbers has used, or at least made reference to, the residual income model (RIM). Two basic types of empirical research have developed. The quot;historicalquot; type explores the relation between market values and reported accounting numbers, often using the linear dynamics in Ohlson (1995) and Feltham and Ohlson (1995, 1996). The quot;forecastquot; type explores the relation between market value and the present value of the book value of equity, a truncated sequence of residual income forecasts, and an estimate of the terminal value at the truncation date. The analysis in this paper integrates these two approaches. We expand the Feltham and Ohlson (1996) model by including one- and two-period-ahead residual income forecasts. This can be viewed as the use of forecasts in the quot;historicalquot; model to infer quot;otherquot; information about future revenues from past investments and about future growth opportunities. Alternatively, it can be viewed as the use of historical data (and the assumed dynamics) in the quot;forecastquot; to develop forecasts beyond the truncation period. In either case, the result is in a model in which the difference between market value and book value of equity is a function of current residual income, one- and two-period ahead residual income forecasts, current capital investment and start-of-period operating assets. The existence of both persistence in revenues from current and prior investments and growth in future positive NPV investment opportunities leads us to hypothesize a negative coefficient on the one-period ahead residual income forecast and a positive coefficient on the two-period-ahead residual income forecast. Our empirical results strongly support our hypotheses with respect to the forecast coefficients.
Book Synopsis The Routledge Companion to Fair Value in Accounting by : Gilad Livne
Download or read book The Routledge Companion to Fair Value in Accounting written by Gilad Livne and published by Routledge. This book was released on 2018-06-13 with total page 757 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of "fair value" marked a major departure from traditional cost accounting. In theory, under this approach a balance sheet that better reflects the current value of assets and liabilities. Critics of fair value argue that it is less useful over longer time frames and prone to distortion by market inefficiencies resulting in procyclicality in the financial system by exacerbating market swings. Comprising contributions from a unique mixture of academics, standard setters and practitioners, and edited by internationally recognized experts, this book, on a controversial and intensely debated topic, is a comprehensive reference source which: examines the use of fair value in international financial reporting standards and the US standard SFAS 157 Fair Value Measurement, setting out the case for and against looks at fair value from a number of different theoretical and practical perspectives, including a critical review of the merits and arguments against the use of fair value accounting explores fair value accounting in practice, involvement in the Great Financial Crisis, implications for managerial reporting discretion, compensation and investment This volume is an indispensable reference that is deserving of a place on the bookshelves of both libraries and all those working in, studying, or researching the areas of international accounting, financial accounting and reporting.
Book Synopsis Equity Valuation Using Multiples by : Andreas Schreiner
Download or read book Equity Valuation Using Multiples written by Andreas Schreiner and published by Springer Science & Business Media. This book was released on 2009-04-15 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Andreas Schreiner examines the role of multiples in equity valuation. He transforms the standard multiples valuation method into a comprehensive framework for using multiples in valuation practice, which corresponds to economic theory and is consistent with the results of a broad empirical study of European and U.S. equity markets.
Book Synopsis The Market Approach to Valuing Businesses by : Shannon P. Pratt
Download or read book The Market Approach to Valuing Businesses written by Shannon P. Pratt and published by John Wiley & Sons. This book was released on 2006-02-22 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: Your Best Approach to Determining Value If you're buying, selling, or valuing a business, how can you determine its true value? By basing it on present market conditions and sales of similar businesses. The market approach is the premier way to determine the value of a business or partnership. With convincing evidence of value for both buyers and sellers, it can end stalemates and get deals closed. Acclaimed for its empirical basis and objectivity, this approach is the model most favored by the IRS and the United States Tax Court-as long as it's properly implemented. Shannon Pratt's The Market Approach to Valuing Businesses, Second Edition provides a wealth of proven guidelines and resources for effective market approach implementation. You'll find information on valuing and its applications, case studies on small and midsize businesses, and a detailed analysis of the latest market approach developments, as well as: A critique of US acquisitions over the last twenty-five years An analysis of the effect of size on value Common errors in applying the market approach Court reactions to the market approach and information to help you avoid being blindsided by a litigation opponent Must reading for anyone who owns or holds a partial interest in a small or large business or a professional practice, as well as for CPAs consulting on valuations, appraisers, corporate development officers, intermediaries, and venture capitalists, The Market Approach to Valuing Businesses will show you how to successfully reach a fair agreement-one that will satisfy both buyers and sellers and stand up to scrutiny by courts and the IRS.
Author :Peter Ove Christensen Publisher :Springer Science & Business Media ISBN 13 :9780387239323 Total Pages :618 pages Book Rating :4.2/5 (393 download)
Book Synopsis Economics of Accounting by : Peter Ove Christensen
Download or read book Economics of Accounting written by Peter Ove Christensen and published by Springer Science & Business Media. This book was released on 2004-12-07 with total page 618 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the softcover version of a title that was released in 2002 and has sold more than 500 copies since then world wide. Examines the fundamentals of the decision-facilitating and decision-influencing role of information in accounting. Emphasises the impact of public and private information on equilibria and investor welfare in capital and product markets.
Book Synopsis Investigating the Relationship Between Market Values and Accounting Numbers for 30 Selected Australian Listed Companies by : Victoria Jane Clout
Download or read book Investigating the Relationship Between Market Values and Accounting Numbers for 30 Selected Australian Listed Companies written by Victoria Jane Clout and published by . This book was released on 2007 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Why the Fundamental Relation Between Firm Market and Accounting Values Is Log-Linear by : Martien Jan Peter Lubberink
Download or read book Why the Fundamental Relation Between Firm Market and Accounting Values Is Log-Linear written by Martien Jan Peter Lubberink and published by . This book was released on 2018 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: We provide a solution that may offer closure to the question on how to measure the empirical relation between stock market values and accounting numbers. The models that dominate studies of the relevance of accounting numbers produce coefficient estimates that are hard to interpret and exhibit great volatility. We present a theory that demonstrates a multiplicative power law describes the long-run relation between market values and accounting values. Consequently, the correct forms for estimating the market-accounting relations are log-linear. Crosssection models based on this theory produce elasticities that are valid and accurately reflect the value relevance of accounting variables. We estimate these elasticities in the cross-section for the years 1971-2016. We compare our multiplicative model, log-linear, estimates to response parameters of traditional, additive-linear models that relate market and accounting values. Our results demonstrate the superiority of using elasticities to measure the empirical relation between market values and accounting numbers.
Download or read book Clean Surplus written by Richard P. Brief and published by Routledge. This book was released on 2013-09-13 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1996. The relationship between the present discounted value of future cash flows and discounted excess earnings should be viewed as a mathematical property of a double-entry book[1]keeping system based on clean surplus. The purpose of this anthology is to facilitate future research by highlighting these historical developments and by showing how more recent theoretical and empirical research fits into the earlier history. The book is divided into four sections: historical overview; analytical properties of clean surplus; the theory of the clean surplus equation; and empirical implications.
Book Synopsis Current Value Accounting in Financial Industries by : George J. Staubus
Download or read book Current Value Accounting in Financial Industries written by George J. Staubus and published by . This book was released on 1974 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
