Uncertainty resolution and the theory of depreciation measurement
Uncertainty resolution and the theory of depreciation measurement
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不确定性消解和折旧计量理论
DOI：
10.2307/2491500
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发表时间：
1996
期刊：
影响因子：
--
通讯作者：
James A. Ohlson
中科院分区：
文献类型：
--
作者：
Gerald A. Feltham;James A. Ohlson
本文研究了公司的折旧政策如何影响会计数字和公司权益的市场价值之间的关系。传统的财务会计理论将折旧计量概念化为一种成本分配程序，将投资成本与其产生的收益流相匹配。长期以来，人们一直认为，在未来现金流量确定且净现值为零的投资环境中，可以使用标准现值技术分配投资成本，以在每个日期产生等于市场价值的账面价值和等于经济收益的会计收益。账面收益率等于
This paper examines how a firm's depreciation policy influences the relation between the resulting accounting numbers and the market value of the firm's equity.' Traditional financial accounting theory conceptualizes depreciation measurement as a cost allocation procedure that matches an investment's cost with the flow of benefits it produces. As has long been recognized, in a setting with certain future cash flows and zero net present value (NPV) investments, investment costs can be allocated using standard present value techniques to yield, at each date, book values equal to market values, and accounting earnings equal to economic earnings.2 The resulting book value and accounting earnings numbers are such that, for all periods, the book rate of return equals the cost of