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Economic Income Versus Accounting Income

Author

Listed:
  • Samuel Tung

    (School of Business, The Hong Kong Baptist University, Kowloon, Hong Kong, China)

Abstract

There is a growing belief that historical-cost accounting is no longer a relevant or reliable means of valuing a firm's assets and liabilities. Economists consider economic income relevant for measuring profit and performance, while they consider accounting income misleading for these purposes. The critical issue of measuring economic income has received little attention. The purpose of this paper is to point out some of the problems involved in computing economic income and to present ways in which accounting income can be adjusted to make it a more viable measurement.

Suggested Citation

  • Samuel Tung, 1998. "Economic Income Versus Accounting Income," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 1(04), pages 545-553.
    • Handle: RePEc:wsi:rpbfmp:v:01:y:1998:i:04:n:s0219091598000326
    DOI: 10.1142/S0219091598000326
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    Cited by:

    1. José Curto & José Pinto & Ana Morais & Isabel Lourenço, 2011. "The heteroskedasticity-consistent covariance estimator in accounting," Review of Quantitative Finance and Accounting, Springer, vol. 37(4), pages 427-449, November.

    More about this item

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance

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