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Accounting in Perfect and Complete Markets



This note represents a preliminary step in the study of accounting. Accounting serves many purposes, and it is not easy to decide where to begin ; we begin by exploring the relationship between accounting numbers and the value of a firm and its assets. Market structure affects value, and furthermore, the relationship between value and accounting. We consider the relationship between the balance sheet and income statement, and how they keep track of the unfolding of economic events.

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  • John Fellingham & Doug Schroeder & Richard Young, "undated". "Accounting in Perfect and Complete Markets," Corporate Finance & Organizations _020, Ohio State University.
  • Handle: RePEc:wop:ohstfi:_020

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    1. repec:bla:joares:v:31:y:1993:i:1:p:92-112 is not listed on IDEAS
    2. Jacques Crémer, 1995. "Arm's Length Relationships," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 275-295.
    3. Russell Cooper & Thomas W. Ross, 1985. "Product Warranties and Double Moral Hazard," RAND Journal of Economics, The RAND Corporation, vol. 16(1), pages 103-113, Spring.
    4. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-358, March.
    5. repec:bla:joares:v:32:y:1994:i:2:p:224-240 is not listed on IDEAS
    6. Joel S. Demski & David E.M. Sappington, 1991. "Resolving Double Moral Hazard Problems with Buyout Agreements," RAND Journal of Economics, The RAND Corporation, vol. 22(2), pages 232-240, Summer.
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