Download or read book An Analysis of Profit Concepts written by John H. Waterhouse and published by . This book was released on 1969 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis advocates that the accounting concept of profit for external reporting purposes should present information which facilitates (l) the prediction of future earnings by present and potential equity and debt holders, (2) the evaluation of management by outsiders, (3) a just taxation policy, and (4) the rational control of the ubiquitous social and economic power of the modern large corporation. Moreover, the accounting concept of profit should place emphasis on the business entity as the central unit, since various and diverse groups are dependent on the corporation for employment, income, and economic growth and stability. Present practices of calculating profit fail to fulfill these objectives adequately. The problem of choosing a more relevant definition of profit is complicated by diverse opinions both within and between the economic and accounting professions. Nevertheless, by historical investigation, it is possible to identify several "theories" from which to choose. Economists have attributed the profit phenomena variously to: (l) the preferred position of the firm in buying or selling markets; (2) the ability of entrepreneurs, through innovation, to gain an excess of revenues over expenses; (3) the ability of the collective enterprise to influence the market structure; and. (4) the existence of uncertainties in combining the factors of production. Alternatively accountants have tended to be concerned with various measurement difficulties particularly those involved in the separation of profit from capital. In order to maintain real capital several forms of price-level adjustments have been suggested for the valuation of assets. Included are: (l) general purchasing power adjustments either for the value of money generally or a specific group of goods; and (2) specific asset input or output price-level adjustments. Among other points accountants have debated whether to include in the net profit figure only the results of current normal operations or all items which result in a change to owners' equity. While no single profit concept adequately fulfills all of the accounting objectives of measuring profit the uncertainty concept provides a common base. The uncertainty concept seems most appropriate because it is consistent with economic realities in describing profit as the difference between ex post and ex ante returns. Ex ante returns are estimations of future earnings made by management and communicated by accountants before the fact. They provide a guide to the investment decision maker and the creditor. We feel that ex ante returns should be all-inclusive. Ex post returns when compared to ex ante returns provide a means of evaluating the efficiency of management in achieving the firm's goals. We conclude that profits are best measured by valuing assets using a general investment price-level adjustment. As such they should present only the results of current operations. Ex post profits seem to provide the best tax base.
Download or read book An Analysis of Economic and Accounting Concepts of Profit written by John Fred Weston and published by . This book was released on 1948 with total page 714 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Accounting Concept of Profit written by Palle Hansen and published by . This book was released on 1966 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Accounting Concept of Profit written by Palle Hansen and published by . This book was released on 1966 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Techniques of Profitability Analysis written by Sam R. Goodman and published by John Wiley & Sons. This book was released on 1970 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards a Non Static Theory of Profit Maximization written by Amitabha Mukherjee and published by Abhinav Publications. This book was released on 1990 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Book Is An Exercise In Pure Theory At The Micro-Level. Abandoning The Traditional Concept Of Profit, As Being The Residual Difference Between Revenue And Cost, The Book Examines In Detail New Concepts Of Profit And Attempts At Determining The Behaviour Of Firms (Where Management And Ownership Is Separated) In Terms Of These New Profit Concepts. The Entire Gamut Of The Theories Of The Firm And The Theories Of Pricing And Output Determination Under Different Market Conditions Is Examined, To Establish How Conventional Analysis Leaves No Room For Firm S Growth, As The Surplus Generated By A Firm Exhausts Itself In Returns To Factor Inputs. A General Theory Of Profit Is Then Presented And The Relationship Between Profit And Other Variables, Notably Growth Is Examined, Within A Firm. An Attempt Is Made To Resolve The Conflict That May Arise In The Managerial Objectives And The Objectives Of The Firms (In The Long-Run) Where Ownership Is Separate From Management. Amitabha Mukherjee After A Distinguished Academic Career Obtained A First Class Master S Degree In Economics From Ranchi University (1976). He Obtained His Second Master S Degree In Managerial Economics And Administrative Science From William Marsh Rice University, Houston (1978). He Studied Comparative Economic And Political Stystems In Washington (1978). He Was Awarded His Ph.D. For His Thesis On Behaviour Of Firms (1983). He Carried Out His Post-Doctorate Research At Rice (1985) And At The University Of South Florida, Tampa, Florida, U.S.A. (1987).
Download or read book Risk Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Download or read book Profit First written by Mike Michalowicz and published by Penguin. This book was released on 2017-02-21 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Author of cult classics The Pumpkin Plan and The Toilet Paper Entrepreneur offers a simple, counterintuitive cash management solution that will help small businesses break out of the doom spiral and achieve instant profitability. Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expenses = Profit. The problem is, businesses are run by humans, and humans aren't always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows. Using Michalowicz's Profit First system, readers will learn that: · Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank account balances. · A small, profitable business can be worth much more than a large business surviving on its top line. · Businesses that attain early and sustained profitability have a better shot at achieving long-term growth. With dozens of case studies, practical, step-by-step advice, and his signature sense of humor, Michalowicz has the game-changing roadmap for any entrepreneur to make money they always dreamed of.
Download or read book The Accuntancy Concept of Profit written by Palle Hansen and published by . This book was released on 1962 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Examination of the Concept of Profit in Economic Analysis written by Donald C. Snyder and published by . This book was released on 1968 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Grow the Pie written by Alex Edmans and published by Cambridge University Press. This book was released on 2021-11-11 with total page 541 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should companies be run for profit or purpose? This book shows how they can deliver both-based on rigorous evidence and an actionable framework. This edition, updated to include the pandemic and latest research, explains how managers, investors and citizens can put purpose into practice-and overcome the difficult trade-offs that hold them back.
Download or read book Business Income written by Marshall Theophilus Copeland and published by . This book was released on 1967 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Profitability Test written by Harborne W. Stuart, Jr. and published by MIT Press. This book was released on 2016-08-19 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new way to determine whether a business strategy will lead to profitability. This book teaches readers to understand profitability in a systematic way, equipping them to provide logically coherent answers to questions about whether a new venture will be profitable, if changes in business strategy will generate an increase in profits, or if “staying the course” will result in continued profitability. Unlike books by business gurus that offer one-size-fits-all advice, this book starts from the premise that you, the reader, are in the best position to make difficult judgments about your business. It shows how to turn these judgments into coherent analysis, presenting state-of-the art theory for understanding business strategy from an economic perspective. The basic building block is the value that is created when the buyer and seller make a deal. In simple terms, if a company is to be profitable, it must make a favorable deal with each and every customer. After setting out key principles and applying them to market situations, the book teaches readers to apply the analysis to their own businesses—in other words, to create their own business game, the main ingredients of which are people and the value that they can create. It addresses how to integrate strategic moves into the book's theory of value creation and competition in order to address the sustainability of a company's profits, the effectiveness of the “invisible hand,” and restrictions to competition. Optional appendixes explain the relevant mathematics.
Download or read book Economics An Anti Text written by Francis Green and published by Springer. This book was released on 1977-03-17 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Profitability Analysis written by and published by Håkan G. Lutz. This book was released on with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Analysis of Edwards and Bell s The Theory and Measurement of Business Income written by Walker E. Fesmire and published by . This book was released on 1994 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book True Profit written by Hermann Simon and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real profit after taxes is the most important management target. Profits are the cost of survival and the creators of new value. In this book, celebrated management thinker Hermann Simon brings clarity to the jungle of profit concepts and balance sheets. He sheds light on the performance of numerous companies and industries in international comparison and looks at the key profit drivers: price, sales and costs. Hermann Simon derives practical consequences from his astute analysis and offers a convincing guide to profit-oriented and sustainable corporate management! The book pleads for a reconsideration of profit as the guiding concept of management and entrepreneurship, and it showcases how profitability can ensure the long term health of a business. Questioning the fact/dilemma, why more than 80 percent of companies in the US are going public have never turned a profit, this book is invaluable inspiration and a powerful guide for responsible and resilient managers and entrepreneurs. .
