Stephen Penman Accounting for Value Download [PDF]
| Title | : | Accounting for Value |
| Author | : | Stephen Penman |
| Publisher | : | Columbia University Press |
| Category | : | Accounting |
| Release | : | December 30, 2010 |
| File type | : | PDF, ePub, eBook |
| File | : | Accounting for Value-Stephen Penman.pdf |
| Last Checked | : | 15 minutes ago |
ATTENTION WE ARE USING A NEW DOWNLOAD SYSTEM
Download Now!*Ads
Awesome book by Stephen Penman, here is the cover and description of the book rutechno in our ebook search engine (epub, mobi, pdf).
rutechno is a blog for readers and book lovers. The contents of this blog include simple public domain links to content hosted on other servers on the network, such as box.com, mega.nz, Microsoft OneDrive, Jumpshare, Google Drive, dropbox, telegram groups, for which it was generally made a search carried out on the main search engines (Google, Bing and Yahoo).
For more information on rutechno read the Disclaimer. If you need to request the removal of one or more contents, you can use the disclaimer page or the page dedicated to DMCA.
Few (if any) information of Accounting for Value
Accounting for Value teaches investors and analysts how to handle accounting in evaluating equity investments. The book's novel approach shows that valuation and accounting are much the same: valuation is actually a matter of accounting for value. Laying aside many of the tools of modern financethe cost-of-capital, the CAPM, and discounted cash flow analysisStephen Penman returns to the common-sense principles that have long guided fundamental investing: price is what you pay but value is what you get; the risk in investing is the risk of paying too much; anchor on what you know rather than speculation; and beware of paying too much for speculative growth. Penman puts these ideas in touch with the quantification supplied by accounting, producing practical tools for the intelligent investor. Accounting for value provides protection from paying too much for a stock and clues the investor in to the likely return from buying growth. Strikingly, the analysis finesses the need to calculate a 'cost-of-capital,' which often frustrates the application of modern valuation techniques. Accounting for value recasts 'value' versus 'growth' investing and explains such curiosities as why earnings-to-price and book-to-price ratios predict stock returns. By the end of the book, Penman has the intelligent investor thinking like an intelligent accountant, better equipped to handle the bubbles and crashes of our time. For accounting regulators, Penman also prescribes a formula for intelligent accounting reform, engaging with such controversial issues as fair value accounting.
Thanks for reading this documentation of Stephen Penman - Accounting for Value. If the information we present is useful to you, rutechno, will be very grateful if you want to share with your family.
