Income valuation is a fundamental valuation approach. One question still open is the discount rate calculation. One factor impacting the discount rate is a capital structure. Nevertheless, the structure has to be in market values. It means that the knowledge of the result is a precondition for...

Three approaches toward the determination of fixed swap rates are presented in this article: a swap as a portfolio of bonds with a fixed and floating coupon, a swap as a portfolio of forwards, and a swap as the difference between the cap and the floor (zero-collar). Later in the paper, credit...

There is need for stakeholders to assess business in terms of its financial situation at each stage of an enterprise. There are plentiful options. You can use the analysis of financial ratios and different Benchmarking methods. It seems advantageous to use methods of comprehensive evaluation of...

A comparison of the conceptual frameworks underlying International Financial Reporting Standards (IFRS / IAS) and American Generally Accepted Accounting Principles (US GAAP) reveals a striking theoretical similarity between the two. Unfortunately, this similarity is masked by an even more...

The paper describes the IFAC Education Committee effort to develop new International Education Standards for Professional Accountants. It informs about the structure and content of International Education Standards and it defines the principle standard requirements. The end of the paper is...

The ordering a categorization of data in the income statement is unavoidable. Even in the absence of clearly identified subtotals, there is some form of implicit structure in any income statement. An immediate difficulty, however, is that attempts to define income statement categories can be...