Financial Reporting: An Enterprise Operations Perspective
23 Pages Posted: 4 Nov 2015
Date Written: November 2, 2015
Studies related to the measurement of accounting numbers have tended to focus on accounting as it relates to: changes in equity values; equity valuation; estimation of the cost of equity capital; and, prediction of equity earnings. I propose and justify a perspective for financial accounting research on measurement of accounting numbers, which differs from the current generally-applied perspective. I argue that important new insights will be gained if research efforts turn toward accounting measurement and valuation at the enterprise/operating/firm level.
Keywords: accounting measurement, enterprise operations, valuation, WACC, cost of capital
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