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In praise of the "other" William Armstrong : a nineteenth century British engineer and early management consultant
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Pitts, Marianne. (2001) In praise of the "other" William Armstrong : a nineteenth century British engineer and early management consultant. Accounting History, Vol.6 (No.2). pp. 33-58. ISSN 1032-3732
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Official URL: http://dx.doi.org/10.1177/103237320100600203
Abstract
This paper is a tribute to an unsung accountant, economist and engineer, who had a clear understanding of modern concepts in accounting and finance, such as discounted cash flows, risk-adjusted discount rates and net present value (NPV), which are usually considered to be twentieth century developments. He applied these in practice from 1850 but, until now, he has not been publicly acknowledged as a pioneer of modern financial planning. The paper also raises the question of why these methods had to be reintroduced a century later.
| Item Type: | Journal Article |
|---|---|
| Divisions: | Faculty of Social Sciences > Warwick Business School |
| Journal or Publication Title: | Accounting History |
| Publisher: | Sage Publications Ltd. |
| ISSN: | 1032-3732 |
| Date: | November 2001 |
| Volume: | Vol.6 |
| Number: | No.2 |
| Page Range: | pp. 33-58 |
| Identification Number: | 10.1177/103237320100600203 |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| URI: | http://wrap.warwick.ac.uk/id/eprint/48040 |
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