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Recognition, measurement and disclosure of public sector assets constitute relevant matters for national and international public sector accounting standard-setting. This chapter develops a theoretical analysis drawing upon a dualistic approach contrasting current value and historical cost accounting models. Accordingly, the latter should be adapted and then preferred to cope with public sector specificities, with a view to providing information for and enforcing accountability to citizens and their political representatives. Drawing upon this theoretical setting, our analysis develops a consistent design for the overarching conceptual framework for assets in general, providing illustrative examples for specific categories such as financial, heritage, natural and military assets.

The paper published below was prepared by Taylor Ostrander for Frank Knight’s course, Economic Theory, Economics 301, during the Fall 1933 quarter.

The applicability and shortcomings of a well-defined cost-estimating process to forecasting resources required for developing and fielding innovative technologies are examined. Whereas the process itself provides a suitable approach for estimating the cost of any program, investment is required for collecting historical data on analogous programs to serve as the foundation for the estimating methodologies. Particular challenges in costing innovation are summarized. An appropriate form of the cost probability distribution for research programs is offered.

The purpose of this chapter is to outline new methodological developments in business valuation, with particular attention to how those developments are being used in litigation involving lost profits and the value of operating businesses. In addition to methodological developments, the chapter also includes a discussion of recent legal developments, particularly selected cases that affect the use and standards for business valuation techniques within litigation settings. Finally, the chapter includes a mathematical appendix.

Implementation of accrual-based accounting systems and the related preparation of an initial balance sheet are stimulating a debate on valuation and management of fixed assets, emphasising how critical it is to have adequate asset information. This chapter aims to propose a framework to clarify the relationship between the asset inventory and the asset register by examining the objectives and characteristics of asset information systems, drawing from experience regarding the implementation of asset inventories and registers from four countries (Malaysia, South Africa, Switzerland, and Australia – State of Victoria).

This paper provides a day-to-day analysis of the reliability of commuting time and trip scheduling under the Advanced Traveler Information System (ATIS). A simple network with parallel routes and bottleneck congestion is used to simulate the departure time and route choice decisions of commuters to minimize total travel time and scheduling delay cost. There are two major factors influencing the decisions of drivers in their departure time and route choices: their accumulated travel experience and information provided by ATIS. A simple experiment is carried for investigating trip-scheduling reliability of this network system.