Economics of Accounting: Volume I
Subtitle: Information in Markets (Springer Series in Accounting Scholarship)
Edition: 1 edition
Publisher: Springer
Published: December 7, 2004
Language: eng
Format: Paperback
Number of pages: 593
ISBN-13: 9780387239323
Subjects: Accounting; Business & Economics; Business / Economics / Finance; Business/Economics; Accounting - General; Economics - Microeconomics; Business & Economics / Accounting / General; Business & Economics-Economics - Microeconomics
First sentence: In their book on cost determination, Demski and Feltham (1977) characterize accounting as playing both decision-facilitating and decision-influencing roles within organizations.
Description: "Economics of Accounting: Volume I - Information in Markets is divided into four parts. In Part A, the authors set the stage in terms of representation of uncertainty, preferences, decisions, and information in a single decision maker setting. The important concept of risk sharing is also introduced in a partnership setting. The concepts developed in Part A are fundamental to the analyses of information in markets in the first volume and in the analyses of performance evaluation in the second volume. Part B extends the analysis to a competitive market setting in which all information is public, and explicitly considers accounting representations of information used in valuation. Part C considers settings in which investors may acquire private information prior to or concurrent with public reports. Finally, Part D considers settings in which managers (or owners) of firms have private information that they can publicly disclose to the capital and product markets."--Jacket.