References
- In his paper, ‘Why Use General Purchasing Power?’, Accounting and Business Research, Spring 1974. The case is developed in detail in Appendix 1 of the paper.
- See Notes 2 and 3, Appendix 2, of PSSAP—7, for an illustration of the type of profit adjustment envisaged.
- ‘The Profits of British Industry’ by G. J. Burgess and A. J. Webb, in Lloyds Bank Review, April 1974, may be consulted for evidence and sources confirming the fall of profits on total capital in British firms, during the post-war period. See also Return on Equities and Fixed Interest Securities: 1919–66 by A. J. Merrett and A. Sykes, District Bank Review No. 158, 1966, for information on the fall of profits on the equity over an extended period of years.