The Resource Accounting for value, Stephen Penman, (electronic resource)

Accounting for value, Stephen Penman, (electronic resource)

Label
Accounting for value
Title
Accounting for value
Statement of responsibility
Stephen Penman
Creator
Contributor
Subject
Language
eng
Summary
  • Accounting for Value teaches investors and analysts how to handle accounting in evaluating equity investments. The book 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 financeùthe cost-of-capital, the Capital Asset Pricing Model, and discounted cash flow analysisùStephen 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 on 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. --Book Jacket
Cataloging source
NhCcYBP
http://library.link/vocab/creatorName
Penman, Stephen H
Illustrations
illustrations
Index
index present
LC call number
HG4529
LC item number
.P45 2011
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
Ebooks Corporation
http://library.link/vocab/subjectName
  • Investment analysis
  • Accounting
Label
Accounting for value, Stephen Penman, (electronic resource)
Instantiates
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
Return to fundamentals (and an accounting for the history of investment ideas) -- Anchoring on fundamentals (and how accounting supplies the anchor) -- Challenging market prices with fundamentals (and deploying accounting for the challenge) -- Accounting for growth from leverage (and protection from paying too much for growth) -- Accounting for growth in the business (and more protection from paying too much for growth) -- Accounting for risk and return (and a remedy for ignorance about the cost-of-capital) -- Pricing growth (and a revision to value versus growth investing) -- Fair value accounting and accounting for value -- Adding value to accounting -- The intelligent investor and the intelligent accountant
Dimensions
unknown
Extent
1 online resource ( xviii, 244 pages)
Form of item
online
Isbn
9780231521857
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations.
Reproduction note
Electronic reproduction.
Specific material designation
remote
Stock number
99967628156
System control number
(NhCcYBP)3544400
Label
Accounting for value, Stephen Penman, (electronic resource)
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
Return to fundamentals (and an accounting for the history of investment ideas) -- Anchoring on fundamentals (and how accounting supplies the anchor) -- Challenging market prices with fundamentals (and deploying accounting for the challenge) -- Accounting for growth from leverage (and protection from paying too much for growth) -- Accounting for growth in the business (and more protection from paying too much for growth) -- Accounting for risk and return (and a remedy for ignorance about the cost-of-capital) -- Pricing growth (and a revision to value versus growth investing) -- Fair value accounting and accounting for value -- Adding value to accounting -- The intelligent investor and the intelligent accountant
Dimensions
unknown
Extent
1 online resource ( xviii, 244 pages)
Form of item
online
Isbn
9780231521857
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations.
Reproduction note
Electronic reproduction.
Specific material designation
remote
Stock number
99967628156
System control number
(NhCcYBP)3544400

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