ENGLISH

Accounting, Cash Flow and Value Relevance

By Francesco Paolone

Book information

Publisher
Springer International Publishing;Springer
Year
2020
ISBN
9783030506872, 9783030506889
DOI
10.1007/978-3-030-50688-9
Language
english
Format
PDF
Filesize
3 MB (2754190 bytes)
Series
SpringerBriefs in Accounting
Edition
1st ed.
Pages
IX, 111\116
Time added
2021-01-06 05:41:07
Business and Management; Accounting/Auditing; Busigeneral

Description

Although the concept “Cash is King” is today widely recognized, the cash flow statement was rather neglected until the EU accounting regulators discovered its relevance in explaining the real value of the business. This book investigates the value relevance of the operating cash flow as reported under the International Financial Reporting Standards (IAS/IFRS) for the largest European listed companies and US listed companies in the past recent years. Using the model based on the valuation theory developed by Ohlson, which measures the market value of equity as a function of accounting variables, the author concludes that operating cash flow represents a significant variable in determining the value relevance of the largest European and US listed companies. These findings provide siginificant implications for standard setters and support the continued requirements for disclosure of cash flow information under IAS 7.

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