Robison, Lindon J.; Barry, Peter J. - In: Agricultural Finance Review 80 (2020) 5, pp. 715-731
Purpose: This paper demonstrates that present value (PV) models can be viewed as multiperiod extensions of accrual income statements (AISs). Failure to include AIS details in PV models may lead to inaccurate estimates of earnings and rates of return on assets and equity and inconsistent...