Organizacion, muerte e inmortalidad

Some neglected phases of accounting
Fundamental valuation principle is not equity but attraction of capital, with assumption of risk by investor involved – author differentiates between capital expenditures and revenue charges, and analyzes depreciation accounting, capitalization of deficits and franchise payments.
By Henry Rand Hatfield.
Professor of accounting, university of California,Berkeley, cal.
There are five matters that call for careful consideration- namely, the fundamental principle of valuation; the differentiation between capital expenditures and Charges against revenue; the treatment of depreciation; the capitalization of deficits, and the effect of payments for franchises.
Paramount among these questions is that relating to the valuation to be taken as the basis forrate regulation. In the torrent of discussion it seems strange that any aspect of the question should have been neglected. Nevertheless in most discussions there is a startling lack of any fundamental principle, of what Allison calls an “over-theory,” by which the varying methods can be judged. One proposes a cost basis, another a reproduction basis, another a present-value basis, butcomparatively little attention has been given to the principle by which these are to be tested.
Equity as fundamental principle of valuation is not adequately considered
To be sure, it is generally implied that there must be some equity, but the question of what constitutes equity as between the public and the corporation is not adequately considered. Two writers of prominence, Allison and Whitten, havecome to closer grips with the subject, but even these fall short of a satisfactory solution. Whitten’s idea is that equity consists in an adequate reward for the sacrifice of the investor. Yet this statement is not followed to its logical conclusion and is made to rest on a forced analogy altogether begging the question at issue. In his argument supporting the cost basis, Whitten states: “[thecorporation] devoted a certain amount of money to a public use and is equitably as much entitled to a fair return on that investment, provide the business can be made to earn it, as though it had actually loaned that amount to the public, it is the actual investment or sacrifice on the part of the company that is entitled to consideration.”




Algunas fases desatendidas de la contabilidadPrincipio de valoración fundamental no es equidad pero la atracción de capital, con la asunción de riesgo por inversionista involucrado – autor distingue entre gastos de capital y gastos de los ingresos y analiza la contabilidad de depreciación, capitalización de los déficits y los pagos de la franquicia.
Por Henry Rand Hatfield.
Profesor de contabilidad, Universidad de California, Berkeley, cal.Hay cinco asuntos que requieren cuidadosos consideración-a saber, el principio fundamental de valoración; la diferenciación entre gastos de capital y los cargos contra los ingresos; el tratamiento de la depreciación; la capitalización de los déficits y el efecto de los pagos para las franquicias.
Paramount entre estas preguntas es la relativa a la valoración a tomarse como base para la regulacióntarifaria. En el torrente de discusión me parece raro que algún aspecto de la cuestión que ha sido descuidado. Sin embargo en la mayoría de las discusiones hay una alarmante falta de cualquier principio fundamental, de que Allison llamadas una "teoría excesiva," por el cual se pueden juzgar los distintos métodos. Se propone una base de costo, otra una base de reproducción, otro a base de valorpresente, pero comparativamente poca atención ha sido dada al principio por que éstos son para ser probado.
La equidad como principio fundamental de la valoración no se considera adecuada
Sin duda, generalmente se implica que debe haber algunas acciones, pero la cuestión de qué constituye la equidad entre el público y la Corporación no se considera adecuada. Dos escritores de prominencia, Allison...