[OPE-L:3155] Re: accounting notes

Michael Perelman (michael@ecst.csuchico.edu)
Thu, 26 Sep 1996 17:23:40 -0700 (PDT)

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Duncan K. Foley wrote:
> 2) The instability of depreciation practices before the introduction of the
> corporate income tax (which makes depreciation a critical determinant of
> the tax bill, and hence of after-tax profit) underlines the point that
> capitalists are basically interested in cash flow over the life of an
> investment.
Yes, they are interested, but do not have a clue as to what it will be.

Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 916-898-5321
E-Mail michael@ecst.csuchico.edu