The purpose of this article is to focus on the importance of assigning monetary values to time, hence to clarify the concept of the Cost of Time by means of measuring it. To do this, the article first clarifies the definition and framework of the Cost of Time. Second, it gradually adapts the three frameworks of the Cost of Time, which are Preventive, Appraisal, and Failure Cost, to the three levels of One Workshop, One Corporation, and Supply Chain. Third, it clarifies the adequacy of the definition of the Cost of Time, as mentioned above, by means of measuring the Cost of Time. If measurement can be taken, the results would indicate that we could interpret the definition of the Cost of Time in a broad sense for purposes of both decision making and performance evaluation. I believe that this would expand the view held thus far which especially emphasizes the use of the Cost of Time in decision making. It is uncertain whether the following perspective has been considered by others in the field, however, I would like to suggest that the idea of utilizing the Cost of Time for performance evaluation should also expand.

The purposes of this paper are as follows: (1) To examine the validity of nine existing methods of measuring leveraged lease transactions, including cases in which the non-recourse debt is liable to the lessor, (2) To propose valid methods of measuring leveraged lease transactions. The three-party financing lease method (The second method) is apprropriate for measuring leveraged lease transactions in cases in which the non-recourse debt is not liable to the lessor. The three-party financing lease method (The tenth method) is apprropriate for measuring leveraged lease transactions in cases in which the non-recourse debt is liable to the lessor.

Appraisal of a project requires measuring the cash flow of the corporate income taxes, as a part of cash flow, incurred by investment. The effective tax rate is used in measuring this cash flow of the corporate income taxes, but when Japan-based multinational enterprises make investment through their subsidiaries abroad, the foreign tax credit method is employed to eliminate international double taxation effects, which should be factored into the effective tax rate. This study, therefore, will propose an effective tax rate into which the foreign tax credit method is factored. It will then consider the effects of changes in several factors that affect the effective tax rate; namely, the corporate income tax rates in Japan and abroad, the business tax rate, the foreign withholding tax rate, and the discount rate.