This paper studies accrual accounting and equity valuation in the context of a firm that makes repeated and overlapping investments in productive capacity. The analysis identifies a particular accrual accounting (depreciation) rule that is termed replacement cost accounting because the book value of existing capacity assets is set equal to the value that such assets would have if a competitive market were to exist for used assets. It is shown that replacement cost accounting aggregates past investment decisions of the firm without a loss of value-relevant information. The intrinsic value of the firm can then be expressed as a function of current accounting data and certain parameters of the firm's operating environment. Further, it is shown that replacement cost accounting is essentially the only accounting rule with this informational sufficiency property.
All American Speakers Bureau is a full-service talent booking agency providing information on booking Alexander Nezlobin for speaking engagements, personal appearances and corporate events. Contact an All American Speakers Bureau booking agent for more information on Alexander Nezlobin speaking fees, availability, speech topics and cost to hire for your next live or virtual event.
We are here to help! Call us to speak with a booking agent to discuss your event or specific speaker request.
Please Note: All American Speakers Bureau is a full-service talent booking agency providing information on booking Alexander Nezlobin for speaking engagements, personal appearances and corporate events. Contact an All American Speakers Bureau booking agent for more information on Alexander Nezlobin speaking fees, availability, speech topics and cost to hire for your next live or virtual event.
Related Tags: Information on keynote speaking engagements, personal appearances, corporate entertainment and appearance fees for Alexander Nezlobin, an inspirational motivational speaker. bio for Alexander Nezlobin agency, manager, speaker fees, speaking agency entertainment booking agency, speaker's fee, how to book, booking agencies for lectures, speaking event, celebrity appearances for hire, who is agent, manager, publicist, who represents, speakers bureau management who represents Alexander Nezlobin