AC2101 S1 2014 Seminar 1.pptx

Pb ratio 1980s year current price to book ratio

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Unformatted text preview: . If interested, please refer to Scotts. 22 11 Concepts of Measurement §༊  What is measurement? §༊  How to go about measuring? §༊  Problems of measurement in Accounting 23 What is measurement? §༊  Measurement is the assignment of numerals to represent the magnitude of an attribute of a phenomenon. ü༏ Phenomenon: object or event to be measured ü༏ Attribute: characteristic or quality of the phenomenon that is to be measured 24 12 How to go about measuring? §༊  Identify relevant phenomenon §༊  Identify relevant attribute of the phenomenon §༊  Find a reliable way to assess the magnitude of the relevant attribute of the relevant phenomenon (i.e., measurement scale) §༊  Estimation may often be needed – substitute with a different phenomenon, a different attribute, or both. 25 Relevant Phenomenon (P1) Direct Observation Substitute Attribute (A2) Estimation A1P1 A1P2 Estima...
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