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Lawson Lawson (December 1976)
Initial Reactions to E.D. 18Certified Accountant
Flemming Flemming, Wright Wright (June 1971)
Uniqueness of the Internal Rate of Return: A GeneralisationEconomic Journal
Ma Ma, Pandy Pandy, Scott Scott (December 1978)
Capital Budgeting and Discounted Cash EquivalentsAbacus
Peasnell Peasnell (December 1979)
Capital Budgeting and Discounted Cash Equivalents: Some Clarifying CommentsAbacus
Wright Wright (Autumn 1970)
A Theory of Financial AccountingJournal of Business Finance
E. Edwards (1978)
The Primacy of Accounting Income in Decisions on Expansion: An Exercise in Arithmetic
Lawson Lawson (28 October 1971)
Cash‐Flow AccountingAccountant
Ma Ma, Scott Scott (December 1980)
Capital Budgeting and Discounted Cash Equivalents: A RejoinderAbacus
Chambers Chambers (December 1978)
Discounted Cash Equivalents: A Note in ResponseAbacus
Peasnell Peasnell (December 1977)
The CCA Depreciation Problem – An Analysis and ProposalAbacus
Key words: Capital budgeting; Fixed assets (ACC); Accounting theory. I The recent proposal by Chambers [1977] for taking account in project appraisals of changes in exit-values of assets has been the subject of critical comment by Ma, Pandy and Scott [1978], a response by Chambers [1978],a further comment by Peasnell[1979] and a rejoinder by Ma and Scott [1980]. Ma and his colleagues argue that Chambersâ Discounted Cash Equivalents (DCEF) model gives misleading results because it is based on incorrect assumptions concerning the timing of the opening cash equivalents. Peasnell argues that the DCEF model doublecounts benefits and also fails to take proper account of differences in risk between projects. Both Ma et al. and Peasnell point out that conventional methods, used properly, are quite up to the job of making allowances for relevant differences in asset backing of projects. The central problem of concern to Chambers [1977] remains unresolved by these commentators: How does one ensure that investment planning and subsequent accounting reports of performance are on the same footing? If, for example, subsequent accounting reports are prepared according to Continuously Contemporary Accounting (CoCoA), as Chambers suggests, whereas investment plans are formulated in terms of operating cash flows
Abacus – Wiley
Published: Jun 1, 1981
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