国际会计学第六版chapter 2

Choi/Meek,6/e1InternationalAccounting,6/eFrederickD.S.ChoiGaryK.MeekChapter2:DevelopmentandClassificationChoi/Meek,6/e2LearningObjectivesIdentifyandunderstandtheimportanceoftheeightfactorsthathaveasignificantinfluenceonaccountingdevelopment.Understandthefourapproachestoaccountingdevelopmentfoundinmarket-orientedWesterneconomiesandidentifycountriesinwhicheachapproachisprevalent.Choi/Meek,6/e3Haveabasicworkingknowledgeofaccountingclassificationsandhowtheycomparewithoneanother.Explainthedifferencebetweenthe“fairpresentation”and“legalcompliance”orientationsofaccountingandidentifynationsinwhicheachisprevalent.Explainwhydistinctionsofaccountingatthenationallevelarebecomingblurred.Choi/Meek,6/e4WhyStudyDevelopmentandClassification?DevelopmentHelpsunderstandanation’saccounting.Explainsthedifferencesandsimilaritiesinaccountingaroundtheworld.Choi/Meek,6/e5ClassificationHelpsunderstandwhyandhownationalaccountingsystemsdiffer.Helpsanalyzewhetherthesesystemsareconvergingordiverging.Areawayofviewingtheworld.Revealswhatgroupmembershaveincommon,andWhatdistinguishesgroupsfromeachotherChoi/Meek,6/e6DevelopmentSourcesoffinance–who,howmany,howclose?EquitymarketsProfitsmeasurehowwellmanagershaverunthecompany.Accountingisusedtoassesscashflows,risks,andtovaluethefirm.Extensivedisclosures.BanksConservativeearningsforcreditorprotection.Lessextensivedisclosures.Choi/Meek,6/e7Development(contin)LegalsystemCodelawLawsareall-embracing.Accountingtendstobeprescriptiveandprocedural.Accountingfocusesonlegalform.Accountingstandardsandproceduresareincorporatedintonationallaws.Choi/Meek,6/e8CommonlawLawsdeveloponacase-by-casebasis.Accountingdevelopsfromexperienceandjudgment.Accountingtendstobeflexible,adaptive,andinnovative.Accountingfocusesoneconomicsubstance.Accountingrulesareestablishedbyprivatesectorprofessionalorganizations.Choi/Meek,6/e9Development(contin)TaxationMustcompaniesrecordrevenuesandexpensesintheiraccountstoclaimthemfortaxpurposes?Arefinancialaccountingandtaxationthesame?Oraretheydifferent?Choi/Meek,6/e10PoliticalandeconomictiesAccountingideasandtechnologiesaretransferredthroughconquest,commerce,andotherforces.InflationInflationdistortshistoricalcostmeasurements.Countrieswithhighinflationoftenrequirethatcompaniesincorporatepricechangesintotheaccounts.Choi/Meek,6/e11Development(contin)LevelofeconomicdevelopmentAffectsthetypesoftransactionsandwhichonesaremostprevalentintheeconomywhich,inturn,Affectstheaccountingissuesthatarefaced.EducationallevelAffectsthecapabilityforprofessionalaccountingtraining.Whereeducationlevelsarelow,countriesimportaccountingtrainingorsendcitizenselsewheretogetit.Choi/Meek,6/e12SUMMARYSeveralvariablesarecloselyassociated.Commonlawlegalsystem,strongequitymarkets,andseparationoffinancialandtaxaccounting.Codelawlegalsystem,credit-basedfinancing,andaccountingrulesthatconformtotaxlaw.Resultistwobasicorientationsofaccounting.FairpresentationLegalcomplianceChoi/Meek,6/e13Development(contin)CultureandaccountingvaluesCulture(Hofstede)Individualismvs.collectivismPowerdistance–highvs.lowUncertaintyavoidance–highvs.lowMasculinityvs.femininityChoi/Meek,6/e14Accountingvalues(Gray)Professionalismvs.statutorycontrolUniformityvs.flexibilityConservatismvs.optimismSecrecyvs.transparencyChoi/Meek,6/e15Development(contin)Linkingthetwo:Choi/Meek,6/e16ClassificationFourapproachestoaccountingdevelopment(Mueller1967)MacroeconomicapproachAccountingderivedfromanddesignedtoenhancenationalmacroeconomicgoals.Example:SwedenChoi/Meek,6/e17MicroeconomicapproachAccountingderivedfrommicroeconomics.MaintainingphysicalcapitalSeparationofcapitalandincomeReplacementcostsExample:theNetherlandsChoi/Meek,6/e18IndependentdisciplineapproachAccountingderivedfrombusinesspractices,judgment,andtrial-and-error.Examples:U.K.andU.S.UniformapproachAccountingisstandardizedbycentralgovernmentandusedasatoolforadministrativecontrol.Example:FranceChoi/Meek,6/e19Classification(contin)Legalsystems:commonlawvs.codelawaccountingCommonlawaccountingOrientedtowardfairpresentation,transparency,andfulldisclosureSeparationbetweentaxandfinancialaccountingAccountingstandardsettinginprivatesectorParallelsstockholdermodelofcorporategovernanceChoi/Meek,6/e20CodelawaccountingLegalisticorientation,opaquewithlowdisclosureAlignmentbetweentaxandfinancialaccountingAccountingstandardsettinginpublicsectorParallelsstakeholdermodelofcorporategovernanceChoi/Meek,6/e21Classification(contin)Practicesystems:fairpresentationversuslegalcomplianceaccountingWhynationalaccountingdistinctionsarebecomingblurredImportanceofstockmarketsasasourceoffinanceisgrowing.Dualfinancialreportingisbecomingmorecommon,particularlywheredualityissanctioned.Somecodelawcountriesareshiftingresponsibilityforaccountingstandardsettingtotheprivatesector.Choi/Meek,6/e22FairpresentationaccountingSubstanceoverform.Orientedtowarddecisionneedsofexternalinvestors.Helpsjudgemanagerialperformanceandpredictfuturecashflowsandpro