The most suitable concept of value. Four alternatives were considered: original cost, replacement cost, selling price and future utility.
The items which should be included in the list of assets to be valued.
The most suitable approach to the problem of the need for periodic profit measurement of the firm’s activities, many of which are only partially completed.
How measurement can be related to the needs of the users of the information.
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Notes and References
- T. Keller and S. Zeff, Financial Accounting Theory II — Issues and Controversies ( New York, McGraw-Hill, 1969 ).Google Scholar
- P. Garner and K. B. Berg, Readings in Accounting Theory ( Boston, Mass., Houghton Mifflin, 1966 ).Google Scholar
- E. S. Hendrikson, Accounting Theory ( Homewood, Ill., Irwin, 1968 ).Google Scholar
- P. Bird, ‘Standard Accounting Practice’, in H. C. Edey and B. S. Yamey (eds) Debits, Credits, Finance and Profits ( London, Sweet & Maxwell, 1974 ).Google Scholar