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Conclusions

In: Margins of Error in Accounting

Author

Listed:
  • D. R. Myddelton

Abstract

By now it will be evident that it is hard to generalise about margins of error, either actual or potential, in different industries. For example, depreciation of tangible fixed assets was subject to very large inflation adjustments in the capital-intensive nationalised industries. Long-term contracts may be relevant in construction, less so elsewhere. Service industries tend to have very low stocks. In food retailing there are no trade debtors to provide for bad debts against. Purchased goodwill is much more important in industries where there have been many mergers and acquisitions, such as drinks and tobacco. In some industries, such as pharmaceuticals, R&D represents a large proportion of sales and profits, in others much smaller. Foreign currency questions do not matter in certain domestic industries. Defined benefit pension schemes, less widespread now than five or ten years ago, affect old companies, with many ex-employees, more than newer ones. Executive stock options are critical in some hi-tech industries.

Suggested Citation

  • D. R. Myddelton, 2009. "Conclusions," Palgrave Macmillan Books, in: Margins of Error in Accounting, chapter 9, pages 145-154, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-59501-9_9
    DOI: 10.1057/9780230595019_9
    as

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