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Contemporary Issues in Management Accounting$
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Alnoor Bhimani

Print publication date: 2006

Print ISBN-13: 9780199283361

Published to Oxford Scholarship Online: May 2007

DOI: 10.1093/acprof:oso/9780199283361.001.0001

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Capital budgeting and informational impediments: a management accounting perspective

Capital budgeting and informational impediments: a management accounting perspective

Chapter:
(p.146) 7 Capital budgeting and informational impediments: a management accounting perspective
Source:
Contemporary Issues in Management Accounting
Author(s):

Lawrence A. Gordon

Martin P. Loeb

Chih‐Yang Tseng

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199283361.003.0007

The evolution of some of the key issues related to capital budgeting makes it clear that informational impediments is a fundamental theme that has dominated much of the capital budgeting literature over the last sixty years. This chapter reviews the literature espousing this theme in the context of the following three specific, albeit related, issues: the use of sophisticated methods for selecting capital investments; asymmetric information and capital budgeting; and post-auditing capital investments. The chapter also discusses the role that management accounting systems (MAS) can play to help mitigate the informational impediments to capital budgeting. It takes a broad-scope view of MAS, considering non-financial as well as financial information, ex ante as well as ex post information, and external as well as internal information.

Keywords:   management accounting systems, capital budgeting, capital investments, internal information, external information

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