التفاصيل البيبلوغرافية
| العنوان: |
Discounted Cash Flow in Historical Perspective. |
| المؤلفون: |
Parker, R. H.1 (AUTHOR) |
| المصدر: |
Journal of Accounting Research (Wiley-Blackwell). Spring68, Vol. 6 Issue 1, p58-71. 14p. |
| مصطلحات موضوعية: |
*DISCOUNTED cash flow, *COMPOUND interest, *RATE of return, *ENGINEERING economy, *NET present value, MATHEMATICS in insurance |
| مستخلص: |
Discounted cash flow has its roots in compound interest, actuarial science, engineering economy, and capital theory. The net present value approach was applied to financial investments by Simon Stevin of Bruges as early as 1582. Bond tables incorporating the equivalent of the internal rate of return were in use by the second half of the 19th century by which time economists and engineers were beginning to discuss the application of discounting to nonfinancial investments. It was not until the 1950's, however, that interest in the use of D.C.F. techniques began to quicken and it is only in the 1960's that this use has become at all widespread. It is suggested that the bias towards historical recording in the education and training of accountants may have been partly responsible for this long delay. [ABSTRACT FROM AUTHOR] |
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