Expenses, taxes and dividends

Expenses, taxes and dividends wi l l be dealt wi th briefly i n this chapter.

Reasonably accurate treatment may often be necessary i n practical

models, as the outcome can be quite sensitive to these issues. H o w -

ever, thorough considerat ion is beyond the scope of this book, so the

treatment w i l l be l imi ted to such features as are relevant for our

model-bui ld ing. The construct ion of a detailed sub-model is left to

the user, who can consult the standard study books of business

adminis t ra t ion to find applications which are suitable for his loca l

environment.