Economic profit does not allow for more accurate expense accruals than accounting profit. Economic profit does mot have anything to do with expense accruals.
Both accounting profit and economic profit include depreciation.
Economic profit and accounting profit both use estimates. In addition to estimates that are made in the calculation of accounting profit, economic profit also requires estimates to be made to calculate the implicit costs.
Economic profit includes opportunity costs for the use of assets in its calculation. Therefore, economic profit will reduce accounting profit by the cost of capital that was used by the company.
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