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Vol 26 - No 09 - November 2000 Value-Based Management As you 've walked,quickly,past the accountant's office recently you may have heard a whole new series of TLAs (Three Letter Acronyms) - VBM, CFROI, NPV, DCF, EVA All right CFROI is five letters but as an accountant I've created an accrual, allowed for depreciation and written off the letter ‘I' as redundant stock! And that's the point, accountants have realised that they've fiddled with the figures to a point where the ‘profit' as stated in the accounts does not necessarily relate to the shareholders view of the ‘value' of the company. Page number: 24 Word count: 1000 Related Topics: Analytical techniques
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