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Resurrecting the Discounted Cash Equivalent Flow |
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| Authors: | DB MADAN |
| Institution: | D. B. Madan;is a Senior Lecturer in the Department of Economic Statistics, The University of Sydney. |
| Abstract: | Following the debate between Chambers and Peasnell, it is argued that the correct criterion for investment appraisal is the discounted net cash equivalent flow, that is CoCoA income net of interest on wealth. |
| Keywords: | Capital budgeting Fixed Assets (ACC) Accounting Theory |