Clean Surplus: A Link Between Accounting and Finance

by Richard P. Brief (Editor), K. V. Peasnell (Editor)

Overview

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.

Product Details

ISBN-13:	9781135609498
Publisher:	Taylor & Francis
Publication date:	09/13/2013
Series:	Routledge New Works in Accounting History
Sold by:	Barnes & Noble
Format:	eBook
Pages:	324
File size:	3 MB

About the Author

Richard P. Brief (Edited by) ,  K. V. Peasnell (Edited by)

Table of Contents

Historical Perspective, Analytical Properties of Clean Surplus Equation, The Theory of the Clean Surplus Equation, Implications for Empirical Research.

Editorial Reviews

Considers the theoretical and empirical implications of clean surplus, an analytic relationship used since the late 19th century to derive a method to value goodwill by discounting residual earnings. Places recent research in historical context by presenting 22 papers published or delivered between 1914 and 1995. No index. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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