会计理论ppt第二章财务报告环境

Chapter 2 The financial reporting environmentSlides written by Michaela Rankin

会计理论ppt第二章财务报告环境

+ In this chapter you will be introduced to– the history of the accounting profession and of regulation – some of the arguments for and against the existence of accounting regulation – some of the theoretical perspectives used to explain the existence of regulation – how and why various groups within society try to influence the standard-setting processCopyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan 2.2

会计理论ppt第二章财务报告环境

– The view that many accounting decisions are based on professional opinion – an awareness of some of the theories that are used to explain what influences the accountant to choose one accounting method – arguments advanced to support the view that accountants are powerful members of society

Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan

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会计理论ppt第二章财务报告环境

+ A process involving the collection and

processing of information of a financial nature for the purpose of assisting various decisions to be made by parties external to the organisation

Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan

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会计理论ppt第二章财务报告环境

+ Users have different information needs so not

possible to generate reports to meet individual needs + users include:– present and potential investors; lenders; suppliers; employees; customers; government and other parties performing a review or oversight function; mediaCopyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan

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会计理论ppt第二章财务报告环境

+ Changes to accounting standards or new

standards affect the numbers within financial reports (profits, net assets) + users should ideally have sufficient knowledge to assess effect of changes to regulations + GPFRs designed for users who exercise due diligence and who possess the proficiency necessary to comprehend the significance of contemporary accounting practicesCopyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan 2.6

会计理论ppt第二章财务报告环境

+ Many companies provide multi-year

summaries– profits, return on assets, earnings per share, dividend yield etc.

+ aid less accounting-literate reader focus on

important issues + BUT management selects information so important information may be overlookedCopyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan 2.7

会计理论ppt第二章财务报告环境

+ Provides information for decision making by

parties within the organisation + internal not external users + largely unregulated

Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan

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会计理论ppt第二章财务报告环境

+ Cash flow projections + sales budgets + production requirements + inventory requirements + tends to be forward focussed (while financial

accounting is historical in nature)Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan

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会计理论ppt第二章财务报告环境

+ Early systems of double entry accounting

traced back to t

hirteenth and fourteenth century in Northern Italy + Franciscan monk named Pacioli first to document double entry accounting practice– 1494

+ included debits and credits and used ledgers

and journalsCopyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan 2.10

会计理论ppt第二章财务报告环境

– 1854: Society of Accountants (Edinburgh) – 1880: Institute of Chartered Accountants in England and Wales – 1887: American Association of Public Accountants

+ although members required to prepare and

audit reports pursuant to company laws and stock exchange requirements, no regulation about content of reports and how numbers compiled existedCopyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan 2.11

会计理论ppt第二章财务报告环境

+ Regulation did not commence until 20th

century + previously limited separation between ownership and management of business entities + systems of accounting were therefore designed to provide information to the owner/managerCopyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan 2.12

会计理论ppt第二章财务报告环境

+ Early 20th century limited work to codify

accounting principles and rules + from 1920s researchers sought to identify and describe commonly accepted accounting conventions– eg. doctrines of conservatism, materiality, consistency; entity assumption; matching principle

+ 1930- US profession and NYSE developed list

of broadly used accounting principlesCopyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan 2.13

会计理论ppt第二章财务报告环境

+ 1934 - US Securities Exchange Act required

specific disclosures of financial information by organisations seeking to trade securities– administered by Securities Exchange Commission (SEC)

+ 1938 - SEC only accepted financial statements

prepared in accordance with gaap of the accounting profession– gave great deal of power to accounting professionCopyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan

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会计理论ppt第二章财务报告环境

+ From 1939 Committee on Accounting

Procedure (committee of the US accounting profession) commenced issuing statements on accounting principles– between 1938 and 1939 released 12 Accounting Research Bulletins

Copyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan

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会计理论ppt第二章财务报告环境

+ In UK not until 1970 when Accounting

Standards Steering Committee established (later Accounting Standards Committee) that mandatory standards developed + In US Financial Accounting Standards Board (FASB) formed in 1973– later produced mandatory standards – from 1965 departures from principles had to be disclosed in footnotesCopyright © 2000 McGraw-Hill Book Co. Aust. PPT t/a Financial Accounting Theory by Deegan

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