国际会计学第六版

InternationalAccounting,6/eFrederickD.S.ChoiGaryK.MeekChapter2:DevelopmentandClassificationLearningObjectivesIdentifyandunderstandtheimportanceoftheeightfactorsthathaveasignificantinfluenceonaccountingdevelopment.Understandthefourapproachestoaccountingdevelopmentfoundinmarket-orientedWestern

economiesandidentifycountriesinwhicheachapproachisprevalent.Haveabasicworkingknowledgeofaccountingclassificationsandhowtheycomparewithoneanother.Explainthedifferencebetweenthe“fairpresentation”and“legalcompliance”orientationsofaccountingandidentifynationsinwhicheachisprevalent.Explainwhydistinctionsofaccountingatthenationallevelarebecomingblurred.WhyStudyDevelopmentandClassification?DevelopmentHelpsunderstandanation’saccounting.Explainsthedifferencesandsimilaritiesinaccountingaroundtheworld.ClassificationHelpsunderstandwhyandhownationalaccountingsystemsdiffer.Helpsanalyzewhetherthesesystemsareconvergingordiverging.Areawayofviewingtheworld.Revealswhatgroupmembershaveincommon,andWhatdistinguishesgroupsfromeachotherDevelopmentSourcesoffinance–who,howmany,howclose?EquitymarketsProfitsmeasurehowwellmanagershaverunthecompany.Accountingisusedtoassesscashflows,risks,andtovaluethefirm.Extensivedisclosures.BanksConservativeearningsforcreditorprotection.Lessextensivedisclosures.Development(contin)LegalsystemCodelawLawsareall-embracing.Accountingtendstobeprescriptiveandprocedural.Accountingfocusesonlegalform.Accountingstandardsandproceduresareincorporatedintonationallaws.CommonlawLawsdeveloponacase-by-casebasis.Accountingdevelopsfromexperienceandjudgment.Accountingtendstobeflexible,adaptive,andinnovative.Accountingfocusesoneconomicsubstance.Accountingrulesareestablishedbyprivatesectorprofessionalorganizations.Development(contin)TaxationMustcompaniesrecordrevenuesandexpensesintheiraccountstoclaimthemfortaxpurposes?Arefinancialaccountingandtaxationthesame?Oraretheydifferent?PoliticalandeconomictiesAccountingideasandtechnologiesaretransferredthroughconquest,commerce,andotherforces.InflationInflationdistortshistoricalcostmeasurements.Countrieswithhighinflationoftenrequirethatcompaniesincorporatepricechangesintotheaccounts.Development(contin)LevelofeconomicdevelopmentAffectsthetypesoftransactionsandwhichonesaremostprevalentintheeconomywhich,inturn,Affectstheaccountingissuesthatarefaced.EducationallevelAffectsthecapabilityforprofessionalaccountingtraining.Whereeducationlevelsarelow,countriesimportaccountingtrainingorsendcitizenselsewheretogetit.SUMMARYSeveralvariablesarecloselyassociated.Commonlawlegalsystem,strongequitymarkets,andseparationoffinancialandtaxaccounting.Codelawlegalsystem,credit-basedfinancing,andaccountingrulesthatconformtotaxlaw.Resultistwobasicorientationsofaccounting.FairpresentationLegalcomplianceDevelopment(contin)CultureandaccountingvaluesCulture(Hofstede)Individualismvs.collectivismPowerdistance–highvs.lowUncertaintyavoidance–highvs.lowMasculinityvs.femininityAccountingvalues(Gray)Professionalismvs.statutorycontrolUniformityvs.flexibilityConservatismvs.optimismSecrecyvs.transparencyDevelopment(contin)Linkingthetwo:ClassificationFourapproachestoaccountingdevelopment(Mueller1967)MacroeconomicapproachAccountingderivedfromanddesignedtoenhancenationalmacroeconomicgoals.Example:SwedenMicroeconomicapproachAccountingderivedfrommicroeconomics.MaintainingphysicalcapitalSeparationofcapitalandincomeReplacementcostsExample:theNetherlandsIndependentdisciplineapproachAccountingderivedfrombusinesspractices,judgment,andtrial-and-error.Examples:U.K.andU.S.UniformapproachAccountingisstandardizedbycentralgovernmentandusedasatoolforadministrativecontrol.Example:FranceClassification(contin)Legalsystems:

commonlawvs.codelawaccountingCommonlawaccountingOrientedtowardfairpresentation,transparency,andfulldisclosureSeparationbetweentaxandfinancialaccountingAccountingstandardsettinginprivatesectorParallelsstockholdermodelofcorporategovernanceCodelawaccountingLegalisticorientation,opaquewithlowdisclosureAlignmentbetweentaxandfinancialaccountingAccountingstandardsettinginpublicsectorParallelsstakeholdermodelofcorporategovernanceClassification(contin)Practicesystems:fairpresentationversuslegalcomplianceaccountingWhynationalaccountingdistinctionsarebecomingblurredImportanceofstockmarketsasasourceoffinanceisgrowing.Dualfinancialreportingisbecomingmorecommon,particularlywheredualityissanctioned.Somecodelawcountriesareshiftingresponsibilityforaccountingstandardsettingtotheprivatesector.FairpresentationaccountingSubstanceoverform.Orientedtowarddecisionneedsofexternalinvestors.HelpsjudgemanagerialperformanceandpredictfuturecashflowsandprofitabilityExtensivedisclosuresIFRSareaimedatfairpresentation.FoundinU.K.,U.S.,Netherlandsandcountriesinfluencedbythem.Thetrendforconsolidatedfinancialstatements.Classification(contin)Legalc