United States Steel Corporation;Depreciation;Replacement of industrial equipment -- Accounting
This paper examines the magnitude of the reporting bias inherent in the historical cost accounting of a firm's physical capital. Reported depreciation data pertaining to U.S. Steel Corporation (currently USX) between 1939 and 1987 are compared with...
This paper traces in descriptive fashion some of the developments of thought about capital maintenance during this century. The adverse consequences of neglecting the subject are mentioned after a basic review of the concepts. Contrasts among the...