19:58 | Author: sang pencari ilmu


•Equals net cash flows + the change in the present value of future cash flows
•Measures change in shareholder value—reflecting the financial effects of all events in a comprehensive manner
•Includes both recurring and nonrecurring components—rendering it less useful for forecasting future earnings potential

•Related to Hicksian concept of income—income includes both realized (cash flow) and unrealized (holding gain or loss) components
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