Opportunity cost in finance and accounting:
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | Undetermined |
| Published: |
Westport, Conn. [u.a.]
Quorum Books
1990
|
| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XV, 199 S. graph. Darst. |
| ISBN: | 0899304001 |
Staff View
MARC
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| 245 | 1 | 0 | |a Opportunity cost in finance and accounting |c H. G. Heymann and Robert Bloom |
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Record in the Search Index
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|---|---|
| adam_text | Contents
Illustrations ix
Preface xi
Part I Introduction to the Problem Environment 1
1. Opportunity Cost and the Theory of Rational Choice 7
The Theory of Rational Choice 11
Definitions of Costs and Benefits in Accounting 15
Competitive Market Equilibrium and Opportunity Cost 18
The Opportunity Cost of Money 21
The Value of Money 23
Summary 25
2. Opportunity Cost and Economic Theory 27
Opportunity Cost and the Principle of Comparative
Advantage 29
Opportunity Cost Principle and the Law of One Price 31
Opportunity Cost and Optimal Resource Allocation 33
v
vi CONTENTS
Cost of Capital 35
Opportunity Costs and Fixed Resources in the Short Run 38
The Theory of Asset Values and the Present Value Method 40
Decision Rules 42
Opportunity Cost Measures and Profit Optimization 44
Opportunity Costs and Ordinal Ranking 48
Part II Applications of the Opportunity Cost Principle 53
3. Opportunity Cost Principle in Finance 61
Rational Decision Making and the Opportunity Cost
Principle 70
Common Types of Decision Problems 74
Value Ranking and Opportunity Cost 78
Preference Ranking as an Explanatory Theory 80
Problem Definition and Opportunity Cost Measures 81
Risk and Uncertainty and the Opportunity Cost of Money 82
Pricing Capital Assets under Conditions of Uncertainty 85
The Effect of Financing on the Risk Adjusted Opportunity
Cost of Money 88
4. The Opportunity Cost Principle and Accounting 91
Accounting Postulates and Accounting Principles 94
Accounting Profit vs. Economic Profit 97
The Objective of Accounting 99
The Opportunity Cost Principle and the Use of
Accounting Information 103
The Opportunity Cost Principle and the Reporting of
Accounting Information 108
Application Examples of the Opportunity Cost Principle 116
CONTENTS vii
Part m Opportunity Cost and Practical Problem Solving 123
5. Opportunity Cost and Descriptive Interpretation of
Financial Management 131
Model Building and Descriptive Model Interpretations 136
An Historical Interpretation of Economic Models 138
Descriptive Models and Practical Problem Solving 142
Practical Problem Solving as an Experimental Process 144
The Changing Concepts of Financial Management 145
Theories of Macroeconomic Management 146
A Systemic View of Economic Macrosystems 152
The Opportunity Cost Principle in a Systemic View 154
6. Opportunity Cost and Practical Problem Solving
in Finance 157
The Problem of Practical Economic Problem Solving 159
The Analytic Approach to Practical Economic Problem
Solving 163
The Evolution of Different Problem Solving Approaches 164
A Process View of Practical Financial Problem Solving 175
Strategic Financial Management 178
Opportunity Cost and Computerized Decision Support
Systems 182
References 189
Index 195
Illustrations
TABLES
2.1 Wool and Wine Production in England and Portugal 27
2.2 Opportunity Cost of Production in England and
Portugal 28
FIGURES
2.1 Opportunity Cost Measures in Optimal Resource
Allocation 36
2.2 Decision Rules for Investment Decisions 44
2.3 Opportunity Cost Measures in Profit Maximation Model 46
3.1 Consumption Opportunity Set 66
3.2 Analysis of Marginal Investment Opportunities with
Capital Market Equilibrium Line (E F) 67
6.1 Maslow s Hierarchy of Needs 184
ix
x ILLUSTRATIONS
EXHIBITS
4.1 Accounting Income of a Small Business for a
Specific Time Period 97
4.2 A Comparison of Economic Income under Three
Alternatives 98
4.3 APB Opinion No. 21: Interest on Receivables
andPayables 111
4.4 Six Valuation Cases 115
|
| any_adam_object | 1 |
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| edition | 1. publ. |
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| id | DE-604.BV006596723 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T16:48:57Z |
| institution | BVB |
| isbn | 0899304001 |
| language | Undetermined |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-004212452 |
| oclc_num | 632418294 |
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| physical | XV, 199 S. graph. Darst. |
| publishDate | 1990 |
| publishDateSearch | 1990 |
| publishDateSort | 1990 |
| publisher | Quorum Books |
| record_format | marc |
| spelling | Heymann, H. G. Verfasser aut Opportunity cost in finance and accounting H. G. Heymann and Robert Bloom 1. publ. Westport, Conn. [u.a.] Quorum Books 1990 XV, 199 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Kostenrechnung (DE-588)4032592-1 gnd rswk-swf Opportunitätskosten (DE-588)4172644-3 gnd rswk-swf Opportunitätskosten (DE-588)4172644-3 s Kostenrechnung (DE-588)4032592-1 s DE-604 Bloom, Robert Verfasser (DE-588)129366072 aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=004212452&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Heymann, H. G. Bloom, Robert Opportunity cost in finance and accounting Kostenrechnung (DE-588)4032592-1 gnd Opportunitätskosten (DE-588)4172644-3 gnd |
| subject_GND | (DE-588)4032592-1 (DE-588)4172644-3 |
| title | Opportunity cost in finance and accounting |
| title_auth | Opportunity cost in finance and accounting |
| title_exact_search | Opportunity cost in finance and accounting |
| title_full | Opportunity cost in finance and accounting H. G. Heymann and Robert Bloom |
| title_fullStr | Opportunity cost in finance and accounting H. G. Heymann and Robert Bloom |
| title_full_unstemmed | Opportunity cost in finance and accounting H. G. Heymann and Robert Bloom |
| title_short | Opportunity cost in finance and accounting |
| title_sort | opportunity cost in finance and accounting |
| topic | Kostenrechnung (DE-588)4032592-1 gnd Opportunitätskosten (DE-588)4172644-3 gnd |
| topic_facet | Kostenrechnung Opportunitätskosten |
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