Marzo, Giuseppe - In: Accounting, Economics and Law 4 (2014) 2, pp. 139-164
Abstract “Accounting for Value” by Stephen Penman is thought-provoking in its challenge to mainstream in both finance … and accounting. This fosters a reflection on models and tools employed for valuation. Some points about the book should be … find profit opportunities. Accrual accounting should be used instead of the discounted cash-flow approach, he says, and …