The present paper examines accounting issues that come up when evaluating a private firm under the Greek accounting standards. More specifically, we try to provide an accounting framework for appraisers who, when they...The present paper examines accounting issues that come up when evaluating a private firm under the Greek accounting standards. More specifically, we try to provide an accounting framework for appraisers who, when they try to retrieve intrinsic values of SMEs, make use of the Free Cash Flows to the Firm （FCFF） model. We focus on adjusting the firms＇ statements＇ items in order to produce a nominator that is consistent with the FCFF theory, taking in response---among others--the Greek tax legislation and the Greek General Chart of Accounts. Finally, we produce a rather normative formula, which can be positively used upon this very model （FCFF valuation） in order to assess the value of a private firm in Greece. The formula is explained thoroughly enough via a practical example of a real Greek private firm.展开更多
The reason for the double-edged sword effect of technology is that in modern system of knowledge, there has appeared a gap between technology and ethics which couldn＇t be found in ancient Greece. Going back to the Gr...The reason for the double-edged sword effect of technology is that in modern system of knowledge, there has appeared a gap between technology and ethics which couldn＇t be found in ancient Greece. Going back to the Greek ancestor of technology--techne, will shed a light on the solution of the problems brought about by modem technology, because even before Plato whose ideas on techne have been heatedly discussed nowadays, techne has embraced an ethical dimension.展开更多
文摘The present paper examines accounting issues that come up when evaluating a private firm under the Greek accounting standards. More specifically, we try to provide an accounting framework for appraisers who, when they try to retrieve intrinsic values of SMEs, make use of the Free Cash Flows to the Firm （FCFF） model. We focus on adjusting the firms＇ statements＇ items in order to produce a nominator that is consistent with the FCFF theory, taking in response---among others--the Greek tax legislation and the Greek General Chart of Accounts. Finally, we produce a rather normative formula, which can be positively used upon this very model （FCFF valuation） in order to assess the value of a private firm in Greece. The formula is explained thoroughly enough via a practical example of a real Greek private firm.
文摘The reason for the double-edged sword effect of technology is that in modern system of knowledge, there has appeared a gap between technology and ethics which couldn＇t be found in ancient Greece. Going back to the Greek ancestor of technology--techne, will shed a light on the solution of the problems brought about by modem technology, because even before Plato whose ideas on techne have been heatedly discussed nowadays, techne has embraced an ethical dimension.
