چکیده:
information to decision making by users of financial information. Financial reporting may be performed in the form of financial statements or other tools of information transfer. Except the information that contained in the financial statements, the information that disclosed out of financial statements are largely based on the forecasts and estimates of management. Most of the information provided by the financial reporting includes predictions about future operations. Therefore, it is expected that because of incomplete estimates of managers about future of trading companies, disclosed information through financial statements and out of it, include common errors. This paper is paid to Review a method that based on modern theory of securities summation (portfolio).
خلاصه ماشینی:
Review of method that based on modern theory of securities summation (portfolio) 1 Ghasam Kamali jaghin1, Mohammad Hossein Ranjbar 1Department of Business Management, College of Human Science, Qeshm International Branch, Islamic Azad University, Qeshm, Iran Abstract: information to decision making by users of financial information.
Accounting profit forecast and its changes as an influencing factor on economic decisions, has been a favorite of investors, managers, financial analysts, researchers and the creditors for long time.
This attention caused by the use of profits in the stock assessment models (presumed relationship between profit and cash flows), contributing to the efficient functioning of the capital market (presumed relationship between changes in profit and stock price changes), Assessment of ability to pay (dividends, interest and other obligations), risk assessment, assessment of economic performance and stewardship of management, evaluate how to choose accounting methods by management, the use of profit forecast is in the income smoothing for management decisions also used in economic research, financial, and accounting (Alavi and Jalili, 8002).
To justify this relationship, it is better to pointing out to the fundamental stock valuation model: Stock price = expected dividend at the end of the first year Desired rate of return - dividend growth rate The order of desired rate of return in above relation is discount rate, that investors used to reduce future cash flows, and for investment in the ordinary shares, this rate can be achieved of safe rate of return, and desired stock risk spend.