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March 18, 2026The Accounting Review

On the Correspondence Between Replacement Cost Income and Economic Income.

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Authors

LRLawrence RevsineNorthwestern University

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Implication

Theoretical analysis investigates the prediction of economic income using replacement cost income's approximations.

Key Points

  • This article aims to explore how replacement cost income can approximate economic income and its implications for financial reporting.
  • Theoretical analysis of replacement cost income and economic income concepts.
  • Examination of previous research on predictive abilities of income measures.
  • Discussion of Type B and Type C price changes and their implications.
  • Replacement cost income may not accurately predict economic income under certain price changes.
  • Incorporating Type B and C price changes can lead to inferential errors.
  • The need for improved external reporting techniques for anticipating cash flow is emphasized.

Cite This Study

Lawrence Revsine (1970) studied this question.

synapsesocial.com/papers/69ba44654e9516ffd37a613fhttps://doi.org/10.2308/tar-4492027
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1Should Replacement-Cost Changes Be Included in Income?1980
  2. 2Current Cost and Present Value in Income Theory.1976
  3. 3The Comparison of Alternative Income Concepts: A Comment.1975
  4. 4The Comparison of Alternative Income Concepts: A Reply.1975
  5. 5Significance of Prospective Income Data.1966