Title: Information content of financial statements, financial plans, and MCS: an integration

Authors: Tony Lowe; Tony Tinker

Addresses: Deceased; formerly of: School of Management, University of Bradford, Emm Lane, Bradford, West Yorkshire BD9 4JL, UK ' Baruch College at the City University of New York, P.O. Box 12:225, One Bernard Baruch Way, New York, NY 10010, USA

Abstract: This article proposes changes for reforming financial statements. For accounting, these suggestions focus on the measurement of the financial value of the business and of its expected flows of income, funds and cash. The paper also stresses the importance of both 'subjective' and 'objective' type data as being essential for the financial appraisal of an enterprise, and also the deployment of financial and strategic planning, present value, market value and replacement cost.

Keywords: present value; conventional accounting; financial reports; cash equivalences; replacement cost; subjective data; objective data; financial appraisal; information content; financial statements; financial planning; management control systems; MCSs; strategic planning.

DOI: 10.1504/IJCA.2015.073509

International Journal of Critical Accounting, 2015 Vol.7 No.5/6, pp.427 - 439

Published online: 10 Dec 2015 *

Full-text access for editors Access for subscribers Purchase this article Comment on this article