Publisher's Synopsis
Starting with an examination of the many variable factors which can affect the measurement of income, this text then focuses on those factors considered to be critical: the unit of measurement (money or a purchasing power unit), the basis of valuing assets, the concept of capital to be maintained and the treatment of holding gains. Six theories of income measurement are then reviewed in turn: historical cost, general purchasing power, replacement cost, current cash equivalent, economic and mixed value to the firm.;This book should be of interest to undergraduate and professional students of accounting and finance.
