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David Oldroyd - One of the best experts on this subject based on the ideXlab platform.

  • THE EMERGENCE OF DISCOUNTED Cash Flow Analysis IN THE TYNESIDE COAL INDUSTRY c.1700–1820
    British Accounting Review, 2001
    Co-Authors: Susie Brackenborough, Tom Mclean, David Oldroyd
    Abstract:

    Abstract The paper examines the origins of discounted Cash Flow Analysis (DCF) in the Tyneside coal industry and explains its sudden adoption around 1801. It finds that a complex series of circumstances were involved, but that in terms of the catalysts, the prime motivation was economic. DCF was a specific wealth-maximization response to the economic conditions of the day. Second, there is the question of the utility of accounting in the British Industrial Revolution which has been variously denigrated or rehabilitated by researchers. The adoption of DCF is a clear case of accounting and engineering technologies combining to facilitate the exploitation of deep coal reserves, where accounting acted as a determinant of industrial expansion. Finally, the paper finds that the DCF valuation method of the early viewers (mining engineers/managers) was still being applied in the British coal industry in the modern era, suggesting that for one major industry at least, the absorption of DCF within the domain of modern accounting practice was primarily a question of tradition and not just an educational innovation of the 1960s.

  • the emergence of discounted Cash Flow Analysis in the tyneside coal industry c 1700 1820
    British Accounting Review, 2001
    Co-Authors: Susie Brackenborough, Tom Mclean, David Oldroyd
    Abstract:

    Abstract The paper examines the origins of discounted Cash Flow Analysis (DCF) in the Tyneside coal industry and explains its sudden adoption around 1801. It finds that a complex series of circumstances were involved, but that in terms of the catalysts, the prime motivation was economic. DCF was a specific wealth-maximization response to the economic conditions of the day. Second, there is the question of the utility of accounting in the British Industrial Revolution which has been variously denigrated or rehabilitated by researchers. The adoption of DCF is a clear case of accounting and engineering technologies combining to facilitate the exploitation of deep coal reserves, where accounting acted as a determinant of industrial expansion. Finally, the paper finds that the DCF valuation method of the early viewers (mining engineers/managers) was still being applied in the British coal industry in the modern era, suggesting that for one major industry at least, the absorption of DCF within the domain of modern accounting practice was primarily a question of tradition and not just an educational innovation of the 1960s.

Jinntsair Teng - One of the best experts on this subject based on the ideXlab platform.

  • inventory and credit decisions for time varying deteriorating items with up stream and down stream trade credit financing by discounted Cash Flow Analysis
    European Journal of Operational Research, 2015
    Co-Authors: Shengchih Chen, Jinntsair Teng
    Abstract:

    In today's competitive markets, most firms in United Kingdom and United States offer their products on trade credit to stimulate sales and reduce inventory. Trade credit is calculated based on time value of money on the purchase cost (i.e., discounted Cash Flow Analysis). Recently, many researchers use discounted Cash Flow Analysis only on the purchase cost but not on the revenue (which is significantly larger than the purchase cost) and the other costs. For a sound and rigorous Analysis, we should use discounted Cash Flow Analysis on revenue and costs. In addition, expiration date for a deteriorating item (e.g., bread, milk, and meat) is an important factor in consumer's purchase decision. However, little attention has been paid to the effect of expiration date. Hence, in this paper, we establish a supplier–retailer–customer supply chain model in which: (a) the retailer receives an up-stream trade credit from the supplier while grants a down-stream trade credit to customers, (b) the deterioration rate is non-decreasing over time and near 100 percent particularly close to its expiration date, and (c) discounted Cash Flow Analysis is adopted for calculating all relevant factors: revenue and costs. The proposed model is an extension of more than 20 previous papers. We then demonstrate that the retailer's optimal credit period and cycle time not only exist but also are unique. Thus, the search of the optimal solution reduces to a local one. Finally, we run several numerical examples to illustrate the problem and gain managerial insights.

  • discount Cash Flow Analysis on inventory control under various supplier s trade credits
    2006
    Co-Authors: Jinntsair Teng
    Abstract:

    In practices, the supplier may simultaneously offer the customer: (1) a permissible delay in payments to attract new customers and increase sales, and (2) a Cash discount to motivate faster payment and reduce credit expenses. Since all Cash outFlows related to inventory control that occur at different points of time have different values, we use the discount Cash-Flow (or DCF) approach to establish the models, and obtain the optimal ordering policies to the problem. We find that the DCF approach is not only simple to understand but also easy to identify which alternative is less cost. In addition, we also characterize the optimal solution and provide the closed-form solution to the problem. Furthermore, we also compare the optimal order quantity under supplier credits with the classical economic order quantity.

Susie Brackenborough - One of the best experts on this subject based on the ideXlab platform.

  • THE EMERGENCE OF DISCOUNTED Cash Flow Analysis IN THE TYNESIDE COAL INDUSTRY c.1700–1820
    British Accounting Review, 2001
    Co-Authors: Susie Brackenborough, Tom Mclean, David Oldroyd
    Abstract:

    Abstract The paper examines the origins of discounted Cash Flow Analysis (DCF) in the Tyneside coal industry and explains its sudden adoption around 1801. It finds that a complex series of circumstances were involved, but that in terms of the catalysts, the prime motivation was economic. DCF was a specific wealth-maximization response to the economic conditions of the day. Second, there is the question of the utility of accounting in the British Industrial Revolution which has been variously denigrated or rehabilitated by researchers. The adoption of DCF is a clear case of accounting and engineering technologies combining to facilitate the exploitation of deep coal reserves, where accounting acted as a determinant of industrial expansion. Finally, the paper finds that the DCF valuation method of the early viewers (mining engineers/managers) was still being applied in the British coal industry in the modern era, suggesting that for one major industry at least, the absorption of DCF within the domain of modern accounting practice was primarily a question of tradition and not just an educational innovation of the 1960s.

  • the emergence of discounted Cash Flow Analysis in the tyneside coal industry c 1700 1820
    British Accounting Review, 2001
    Co-Authors: Susie Brackenborough, Tom Mclean, David Oldroyd
    Abstract:

    Abstract The paper examines the origins of discounted Cash Flow Analysis (DCF) in the Tyneside coal industry and explains its sudden adoption around 1801. It finds that a complex series of circumstances were involved, but that in terms of the catalysts, the prime motivation was economic. DCF was a specific wealth-maximization response to the economic conditions of the day. Second, there is the question of the utility of accounting in the British Industrial Revolution which has been variously denigrated or rehabilitated by researchers. The adoption of DCF is a clear case of accounting and engineering technologies combining to facilitate the exploitation of deep coal reserves, where accounting acted as a determinant of industrial expansion. Finally, the paper finds that the DCF valuation method of the early viewers (mining engineers/managers) was still being applied in the British coal industry in the modern era, suggesting that for one major industry at least, the absorption of DCF within the domain of modern accounting practice was primarily a question of tradition and not just an educational innovation of the 1960s.

Tom Mclean - One of the best experts on this subject based on the ideXlab platform.

  • THE EMERGENCE OF DISCOUNTED Cash Flow Analysis IN THE TYNESIDE COAL INDUSTRY c.1700–1820
    British Accounting Review, 2001
    Co-Authors: Susie Brackenborough, Tom Mclean, David Oldroyd
    Abstract:

    Abstract The paper examines the origins of discounted Cash Flow Analysis (DCF) in the Tyneside coal industry and explains its sudden adoption around 1801. It finds that a complex series of circumstances were involved, but that in terms of the catalysts, the prime motivation was economic. DCF was a specific wealth-maximization response to the economic conditions of the day. Second, there is the question of the utility of accounting in the British Industrial Revolution which has been variously denigrated or rehabilitated by researchers. The adoption of DCF is a clear case of accounting and engineering technologies combining to facilitate the exploitation of deep coal reserves, where accounting acted as a determinant of industrial expansion. Finally, the paper finds that the DCF valuation method of the early viewers (mining engineers/managers) was still being applied in the British coal industry in the modern era, suggesting that for one major industry at least, the absorption of DCF within the domain of modern accounting practice was primarily a question of tradition and not just an educational innovation of the 1960s.

  • the emergence of discounted Cash Flow Analysis in the tyneside coal industry c 1700 1820
    British Accounting Review, 2001
    Co-Authors: Susie Brackenborough, Tom Mclean, David Oldroyd
    Abstract:

    Abstract The paper examines the origins of discounted Cash Flow Analysis (DCF) in the Tyneside coal industry and explains its sudden adoption around 1801. It finds that a complex series of circumstances were involved, but that in terms of the catalysts, the prime motivation was economic. DCF was a specific wealth-maximization response to the economic conditions of the day. Second, there is the question of the utility of accounting in the British Industrial Revolution which has been variously denigrated or rehabilitated by researchers. The adoption of DCF is a clear case of accounting and engineering technologies combining to facilitate the exploitation of deep coal reserves, where accounting acted as a determinant of industrial expansion. Finally, the paper finds that the DCF valuation method of the early viewers (mining engineers/managers) was still being applied in the British coal industry in the modern era, suggesting that for one major industry at least, the absorption of DCF within the domain of modern accounting practice was primarily a question of tradition and not just an educational innovation of the 1960s.

Shengchih Chen - One of the best experts on this subject based on the ideXlab platform.

  • inventory and credit decisions for time varying deteriorating items with up stream and down stream trade credit financing by discounted Cash Flow Analysis
    European Journal of Operational Research, 2015
    Co-Authors: Shengchih Chen, Jinntsair Teng
    Abstract:

    In today's competitive markets, most firms in United Kingdom and United States offer their products on trade credit to stimulate sales and reduce inventory. Trade credit is calculated based on time value of money on the purchase cost (i.e., discounted Cash Flow Analysis). Recently, many researchers use discounted Cash Flow Analysis only on the purchase cost but not on the revenue (which is significantly larger than the purchase cost) and the other costs. For a sound and rigorous Analysis, we should use discounted Cash Flow Analysis on revenue and costs. In addition, expiration date for a deteriorating item (e.g., bread, milk, and meat) is an important factor in consumer's purchase decision. However, little attention has been paid to the effect of expiration date. Hence, in this paper, we establish a supplier–retailer–customer supply chain model in which: (a) the retailer receives an up-stream trade credit from the supplier while grants a down-stream trade credit to customers, (b) the deterioration rate is non-decreasing over time and near 100 percent particularly close to its expiration date, and (c) discounted Cash Flow Analysis is adopted for calculating all relevant factors: revenue and costs. The proposed model is an extension of more than 20 previous papers. We then demonstrate that the retailer's optimal credit period and cycle time not only exist but also are unique. Thus, the search of the optimal solution reduces to a local one. Finally, we run several numerical examples to illustrate the problem and gain managerial insights.