FINANCIAL ACCOUNTING THEORY (RMIT UNIVERSITY,CRAIG DEEGAN)--CHAPTER5规范会计理论-概念架构设计为例
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Financial Accounting Theory Instructor's Solutions Manual (1)
I NSTRUCTOR’S S OLUTIONS M ANUALforFinancial AccountingTheorySeventh EditionWilliam R. ScottUniversity of WaterlooTorontoCopyright © 2015 Pearson Canada Inc., Toronto, Ontario. All rights reserved. This work is protected by Canadian copyright laws and is provided solely for the use of instructors in teaching their courses and assessing student learning. Dissemination or sale of any part of this work (including on the Internet) will destroy the integrity of the work and is not permitted. The copyright holder grants permission to instructors who have adopted Financial Accounting Theory, Seventh Edition, by William R. Scott to post this material online only if the use of the website is restricted by access codes to students in the instructor’s class that is using the textbook and provided the reproduced material bears this copyrightnotice.ContentsChapter 1 Introduction (1)Chapter 2 Accounting Under Ideal Conditions (7)Chapter 3 The Decision Usefulness Approach to Financial Reporting (68)Chapter 4 Efficient Securities Markets (129)Chapter 5 The Value Relevance of Accounting Information (153)Chapter 6 The Measurement Approach to Decision Usefulness (194)Chapter 7 Measurement Applications (237)Chapter 8 The Efficient Contracting Approach to Decision Usefulness (285)Chapter 9 An Analysis of Conflict (321)Chapter 10 Executive Compensation (371)Chapter 11 Earnings Management (425)Chapter 12 Standard Setting: Economic Issues (487)Chapter 13 Standard Setting: Political Issues (527)Copyright © 2015 Pearson Canada Inc.。
FINANCIAL ACCOUNTING THEORY (RMIT UNIVERSITY,CRAIG DEEGAN)--CHAPTER3财务会计的政府管制
3.10
Chapter 3: The regulation of financial accounting
Assumptions underlying market for managers argument
• Managerial labour market operates efficiently
– includes providing optimal amount of accounting information
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
3.4
Chapter 3: The regulation of financial accounting
‘Free market’ perspective
Financial Accounting Theory
Craig Deegan
Chapial accounting
Slides written by Michaela Rankin
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
• also assumed auditing will take place in absence of regulation - reduces risk to external stakeholders
Financial Accounting Theory chapter1财务会计理论概述
Copyright © 2000 McGraw-Hill Book Co. Aust.
PPT t/a Financial Accounting Theory by Deegan
1.3
Chapter 1: An introduction to financial accounting theory
What is a theory?
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan 1.9
Chapter 1: An introduction to financial accounting theory
Accounting theories
• Accounting is a human activity • theories of accounting consider:
– people’s behaviour with respect to accounting information – people’s needs for accounting information – why people within organisations elect to supply particular information
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan 1.6
Chapter 1: An introduction to financial accounting theory
– Based on logical (coherent) reasoning
financial accounting theory
10.8 Be able to outline the major results of capital marncial accounting and disclosure. 10.9 Be aware of debates that challenge long-held beliefs about ‘market efficiency’.
10-1
Learning objectives
10.1 Understand the role of capital markets research in assessing the information content of accounting disclosures. 10.2 Understand the difference between capital markets research (which explores the response of ‘the market’ in aggregate) and behavioural research (which explores the actions of individuals). 10.3 Understand the assumptions of market efficiency typically adopted in capital markets research. 10.4 10.5 Understand the basics of the ‘market model’ as derived from the capital assets pricing model. Understand the difference between capital markets research that looks at the information content of accounting disclosures, and capital markets research that uses share price data as a benchmark for evaluating accounting continued disclosures.
10-1
Learning objectives
10.1 Understand the role of capital markets research in assessing the information content of accounting disclosures. 10.2 Understand the difference between capital markets research (which explores the response of ‘the market’ in aggregate) and behavioural research (which explores the actions of individuals). 10.3 Understand the assumptions of market efficiency typically adopted in capital markets research. 10.4 10.5 Understand the basics of the ‘market model’ as derived from the capital assets pricing model. Understand the difference between capital markets research that looks at the information content of accounting disclosures, and capital markets research that uses share price data as a benchmark for evaluating accounting continued disclosures.
财务会计理论英文课件 (1)
© 2006 Pearson Education Canada Inc.
1-10
Enron, Cont’d.
• GAAP requires amounts due from shareholders be deducted from shareholders’ equity
– Is a limited partnership, owned by Enron officers, a shareholder?
FINANCIAL ACCOUNTING THEORY
• Purpose: To create an awareness of the financial reporting environment in a market economy
© 2006 Pearson Education Canada Inc.
© 2006 Pearson Education Canada Inc.
1-13
ENRON, Cont’d
• Enron records its share of SPE profits
– Investment in SPE xxx Net income xxx SPE profits include increases in fair value of its holdings of Enron shares. Result: Enron includes increases in the market value of its shares in its net income.
– Enron has the cash but debt does not appear on its books
© 2006 Pearson Education Canada Inc.
财会与Financial accounting的联系与区别
财会与Financial accounting的联系与区别当今社会经济全球化日益发展，国家之间的贸易往来日益频繁，为适应这种全球化的趋势，各国的会计准则都在一次次的改革中不断向国际会计准则靠拢，国家之间的会计准则差异日益缩小。
本学期我们分别学习了中国的财务会计和英国的财务会计，对两国会计准则上的联系与区别有一些个人的理解，也深刻感受到了蕴藏在会计准则之后的两国文化和思维方式的差异。
首先谈谈二者的联系。
随着商品经济的发展，企业组织形式、组织结构和经济活动越来越复杂，企业经营管理水平越来越高，企业的经营权和所有权逐渐分离，在企业外部形成了直接和间接的利益相关者。
他们不参与企业的经营管理，但都是企业会计信息的外部使用者，他们主要通过企业定期递送或发布的财务会计报告中了解气的的财务状况和经营成果。
财务会计就主要服务于这些利益相关者，为他们提供有用的信息。
这是两国的财务会计共通的地方。
并且在大部分的业务处理上两国都是相似的，只有细微的区别。
其次说说二者的区别。
在我看来，中英两国财务会计的主要区别在于文化差异，英国人比较保守，而且思维不如中国人复杂。
例如，英国资产负债表会将固定资产列在前面而中国资产负债表是将流动资产列在前面的。
英国的会计科目比中国的少，分类没有中国的细。
例如，中国的期间费用会分为管理费用、财务费用、销售费用，而英国的费用一般都是直接以那项费用命名，如rent,electricity等等，直接计入当期损益，没有那么多分类。
在会计处理上也比中国的简单、直接很多，例如产品的销售成本都是倒轧出来的，不考虑库存商品或材料的自然损耗，不像中国的处理那么细致。
以上就是我对中国和英国财务会计关系的一些粗浅的理解，它们之间更深刻的关系留待从以后的学习中获取。
会计理论3概要
• 现代管理会计产生于上个世纪的20年代，由于泰罗制度在现实中的广泛应用， 会计如何为提高企业的生产和工作效率服务，开始提到议事日程，同时“标 准成本”、“差异分析”、“预算控制”等与科学管理直接联系的计划、控 制方法开始引入到会计中来。在当时就有人把这些内容综合起来，称之为管 理会计。如1922年奎因斯坦出版的《管理会计：财务管理入门》，1924年出 版的麦金西的《管理会计》，但是这些都没有得到当时学术界的广泛认可。 直到第二次世界大战结束后，由于公司规模的扩大，公司的复杂程度越来越 高，而且伴随计算机技术的发展，管理会计正式的从财务会计中分离出来， 成为一门独立的学科。
沃克和泰利 美国会计学会
把会计理论定义为基本假定、定义、原则和概念———以及多少我 们能够加以衍生的名词———他们用来作为立法机构制定政策的指 导,并指引会计报告和财务信息。
会计理论是识别会计领域以便从中得到有用的结论
实证会计理论
Watts和Zimmerman.等 会计理论的目标是解释和预测会计实务
• 按照研究方法的不同可以分为规范会计理论和实证会计理 论(演绎法和归纳法);按照推理方式分类，会计理论又可以 分为演绎推理和归纳推理。
3.2.1按研究对象进行分类
1. 财务会计理论（Financial Accounting Theory）
• 财务会计理论，顾名思义，是研究财务会计（Financial Accounting）学科 领域的理论。到目前为止，大多数的会计文献和会计理论研究都是关于财务 会计理论的研究。
《会计理论结构》、《公 司会计准则导论》
认为会计的重心是收益，强调收益以及配比原则在 会计中的重要地位
爱德华兹和贝尔 （ Edwards and
Bell）
《企业收益的理论和计量》
沃克和泰利 美国会计学会
把会计理论定义为基本假定、定义、原则和概念———以及多少我 们能够加以衍生的名词———他们用来作为立法机构制定政策的指 导,并指引会计报告和财务信息。
会计理论是识别会计领域以便从中得到有用的结论
实证会计理论
Watts和Zimmerman.等 会计理论的目标是解释和预测会计实务
• 按照研究方法的不同可以分为规范会计理论和实证会计理 论(演绎法和归纳法);按照推理方式分类，会计理论又可以 分为演绎推理和归纳推理。
3.2.1按研究对象进行分类
1. 财务会计理论（Financial Accounting Theory）
• 财务会计理论，顾名思义，是研究财务会计（Financial Accounting）学科 领域的理论。到目前为止，大多数的会计文献和会计理论研究都是关于财务 会计理论的研究。
《会计理论结构》、《公 司会计准则导论》
认为会计的重心是收益，强调收益以及配比原则在 会计中的重要地位
爱德华兹和贝尔 （ Edwards and
Bell）
《企业收益的理论和计量》
Financial Accounting Theory (5)
– Opportunistic and Efficiency views
2
Positive Accounting Theory (PAT)
• Broad definition
– A theory that is in contrast to normative accounting theory
• Normative: what should be • Positive: what actually is
• Narrow scope
– Studies “that examines the determinants and consequences of accounting choice” (Fields et al. 2001) – Competing with EMH-based studies
10
Full-cost vs. Successful-efforts Methods
Site 1 2 3 4 5 Cost of acqui. and explor. $1m $1.2m $2m $0.5m $1.3m Resource discovered? No No Yes Yes No Assume capitalized cost is amortized in five years using straight-line method.
Full-cost property cost $6mil. Successful effort property cost $2.5mil.
0 1 2 3 4 5 Expenses (full cost) -0- (1.2m) (1.2m) (1.2m) (1.2m) (1.2m) Exp. and loss (succ. effo.) (3.5m) (0.5m) (0.5m) (0.5m) (0.5m) (0.5m)
2
Positive Accounting Theory (PAT)
• Broad definition
– A theory that is in contrast to normative accounting theory
• Normative: what should be • Positive: what actually is
• Narrow scope
– Studies “that examines the determinants and consequences of accounting choice” (Fields et al. 2001) – Competing with EMH-based studies
10
Full-cost vs. Successful-efforts Methods
Site 1 2 3 4 5 Cost of acqui. and explor. $1m $1.2m $2m $0.5m $1.3m Resource discovered? No No Yes Yes No Assume capitalized cost is amortized in five years using straight-line method.
Full-cost property cost $6mil. Successful effort property cost $2.5mil.
0 1 2 3 4 5 Expenses (full cost) -0- (1.2m) (1.2m) (1.2m) (1.2m) (1.2m) Exp. and loss (succ. effo.) (3.5m) (0.5m) (0.5m) (0.5m) (0.5m) (0.5m)
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• In this chapter you will be introduced to
– the role that conceptual frameworks can play in the practice of financial reporting
– the history of the development of the various existing conceptual framework projects
• Refer to Figure 5.1 in the text for an overview of the Australian Conceptual Framework
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
for lack of any real framework
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
5.10
Chapter 5: Conceptual framework projects
5.9
Chapter 5: Conceptual framework projects
Development of frameworks of accounting in the US
• 1961 and 1962 Moonitz, and Moonitz and Sprouse prescribed that accounting practice should be based on current values
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
5.3
Chapter 5: Conceptual framework projects
What is a conceptual framework?
5.2
Chapter 5: Conceptual framework projects
Learning Objectives
– perceived advantages and disadvantages that arise from the establishment and development of conceptual frameworks
• 1974 APB replaced by FASB which then embarked on its CF project
• 6 SFACs released from 1978 to 1985
• Initial SFACs normative in nature, but SFAC No. 5 relating to recognition and measurement largely descriptive of current practice
5.7
Chapter 5: Conceptual framework projects
The ‘building blocks’ of the conceptual framework
• The framework must be developed in a particular order
– some issues need to be resolved before moving on to subsequent ‘building blocks’
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
5.4
Chapter 5: Conceptual framework projects
Conceptual frameworks as normative theories
• No standard-setters have developed a complete CF
• Limited or no progress in recent years
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
5.5
Chapter 5: Conceptual framework projects
Rationale for conceptual
should possess; – what are the elements of financial reporting; – what measurement rule should be employed
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
• ‘A coherent system of interrelated objectives and fundamentals that is expected to lead to consistent standards’
• attempts to provide a structured theory of accounting
– factors, including political factors, that might help or hinder the development of conceptual framework projects
– groups within society which are likely to benefit from the establishment and development of conceptual framework projects
• 1965 Grady developed theory based on description of existing practice
– led to the release of APB Statement No. 4 – however accounting profession under criticism
– objective 1 focussed on information needs of financial statement users
– objective 2—need to serve users with limited ability to demand financial information
– the various building blocks that have been developed within various conceptual framework pro McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
Development of frameworks of accounting in the US—continued
• Led to formation of Trueblood Committee in 1971which produced Trueblood Report
– report outlined 12 objectives of accounting and 7 qualitative characteristics which financial information should possess
Financial Accounting Theory
Craig Deegan
Chapter 5 Normative theories of accounting—the case of conceptual framework projects
Slides written by Michaela Rankin
• limited consistency between accounting standards in the absence of a conceptual framework
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
5.6
Chapter 5: Conceptual framework projects
Rationale for conceptual frameworks—continued
• Proponents argue that without agreement on these issues accounting standards will be developed in an ad hoc manner
• Conceptual frameworks provide prescription so they are considered normative theories of accounting
• ‘prescribes the nature, function and limits of financial accounting and reporting’
– the role that conceptual frameworks can play in the practice of financial reporting
– the history of the development of the various existing conceptual framework projects
• Refer to Figure 5.1 in the text for an overview of the Australian Conceptual Framework
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
for lack of any real framework
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
5.10
Chapter 5: Conceptual framework projects
5.9
Chapter 5: Conceptual framework projects
Development of frameworks of accounting in the US
• 1961 and 1962 Moonitz, and Moonitz and Sprouse prescribed that accounting practice should be based on current values
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
5.3
Chapter 5: Conceptual framework projects
What is a conceptual framework?
5.2
Chapter 5: Conceptual framework projects
Learning Objectives
– perceived advantages and disadvantages that arise from the establishment and development of conceptual frameworks
• 1974 APB replaced by FASB which then embarked on its CF project
• 6 SFACs released from 1978 to 1985
• Initial SFACs normative in nature, but SFAC No. 5 relating to recognition and measurement largely descriptive of current practice
5.7
Chapter 5: Conceptual framework projects
The ‘building blocks’ of the conceptual framework
• The framework must be developed in a particular order
– some issues need to be resolved before moving on to subsequent ‘building blocks’
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
5.4
Chapter 5: Conceptual framework projects
Conceptual frameworks as normative theories
• No standard-setters have developed a complete CF
• Limited or no progress in recent years
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
5.5
Chapter 5: Conceptual framework projects
Rationale for conceptual
should possess; – what are the elements of financial reporting; – what measurement rule should be employed
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
• ‘A coherent system of interrelated objectives and fundamentals that is expected to lead to consistent standards’
• attempts to provide a structured theory of accounting
– factors, including political factors, that might help or hinder the development of conceptual framework projects
– groups within society which are likely to benefit from the establishment and development of conceptual framework projects
• 1965 Grady developed theory based on description of existing practice
– led to the release of APB Statement No. 4 – however accounting profession under criticism
– objective 1 focussed on information needs of financial statement users
– objective 2—need to serve users with limited ability to demand financial information
– the various building blocks that have been developed within various conceptual framework pro McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
Development of frameworks of accounting in the US—continued
• Led to formation of Trueblood Committee in 1971which produced Trueblood Report
– report outlined 12 objectives of accounting and 7 qualitative characteristics which financial information should possess
Financial Accounting Theory
Craig Deegan
Chapter 5 Normative theories of accounting—the case of conceptual framework projects
Slides written by Michaela Rankin
• limited consistency between accounting standards in the absence of a conceptual framework
Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan
5.6
Chapter 5: Conceptual framework projects
Rationale for conceptual frameworks—continued
• Proponents argue that without agreement on these issues accounting standards will be developed in an ad hoc manner
• Conceptual frameworks provide prescription so they are considered normative theories of accounting
• ‘prescribes the nature, function and limits of financial accounting and reporting’