2007年12月ACCA Corporate Reporting(P2)考题解析 section B

Section B–T WO questions ONL Y to be attempted
2．Macaljoy,a public limited company,is a leading suppor t ser vices company which focuses on the building industr y. The company would like advice on how to treat cer t ain items under IAS19,‘Employee Benefits’and IAS37‘P rovisions,Contingent Liabilities and
Contingent Assets’.The company operates the Macaljoy(2006)P e nsion Plan which commenced on1November2006and the Macaljoy(1990)P e nsion Plan,which was closed to new entrants from 31October2006,but which was open to future ser vice
accrual for the employees already in the scheme.The assets of the schemes are held
separately from those of the company in funds under the control of trustees.The
following information relates to the two schemes:
Macaljoy(1990)P e nsion Plan
The terms of the plan are as follows:
(i) e mployees contribute 6% of their salaries to the plan
(ii) Macaljoy contributes,currently,the same amount to the plan for the benefit of the employees
(iii)On retirement,employees are guaranteed a pension which is based upon the number of years ser vice with the company and their final salary
The following details relate to the plan in the year to31October2007:
$m P r esent value of obligation at1November2006200 P r esent value of obligation at31October2007240
F a ir value of plan assets at1November2006190
F a ir value of plan assets at31October2007225
Current ser vice cost20 P e nsion benefits paid19 To tal contributions paid to the scheme for year to31October200717 Actuarial gains and losses are recognised in the‘statement of recognised income and expense’.
Macaljoy(2006)P e nsion Plan
Under the terms of the plan,Macaljoy does not guarantee any return on the contributions paid into the fund.The company’s legal and constructive obligation is limited to the amount that is contributed to the fund.The following details relate to this scheme: $m
F a ir value of plan assets at31October200721
Contributions paid by company for year to31October200710 Contributions paid by employees for year to31October200710
The discount rates and expected return on plan assets for the two plans are:
1November2006 31October2007 Discount rate5% 6%
Expected return on plan assets7%8% The company would like advice on how to treat the two pension plans,for the year ended31 October2007,together with an explanation of the differences between a defined contribution plan and a defined benefit plan.
W a rranties
Additionally the company manufactures and sells building equipment on which it gives a standard one year warranty to all customers.The company has extended the warranty to two years for cer t ain major customers and has insured against the cost of the second year of the warranty.The warranty has been extended at nil cost to the customer.The claims made under the extended warranty are made in the first instance against Macaljoy and then Macaljoy in turn makes a counter claim against the insurance company.Pa st experience has shown that80%of the building equipment will not be subject to warranty claims in the first year,15%will have minor defects and 5% will require major repair.Macaljoy estimates that in the second year of the warranty,20%of the items sold will have minor defects and10%will require major repair.
Assume that sales of equipment are on31October2007and any warranty claims are made on31October in the year of the claim.Assume a risk adjusted discount rate of 4%.
Re q ui red:
Draf t a repor t suitable for presentation to the directors of Macaljoy which:
(a)(i)Discusses the nature of and differences between a defined contribution plan and a defined benefit plan with specific reference to the company’s two schemes.(7marks) (ii)Shows the accounting treatment for the two Macaljoy pension plans for the year ended31 October2007 under IAS19‘Employee Benefits’.(7marks)
(b)(i)Discusses the principles involved in accounting for claims made under the above warranty provision.(6marks)
(ii)Shows the accounting treatment for the above warranty provision under IAS 37
‘P rovisions,Contingent Liabilities and Contingent Assets’for the year ended31October2007.
(3marks)
Appropriateness of the format and presentation of the repor t and communication of advice.(2 marks) (25marks)
试题解析：
题目要求答案以报告的形式呈现。

报告的几个要素必须要有：
To：
From:
Subject
Date:
Introduction
Body
Conclusion
对于缺失的preparer and date等大家虚拟一个就可以了。

题目分成两个问题，(a)是关于IAS 19 Employee Benefits，(b)是关于IAS 37 Provisions, Contingent Liabilities and Contingent Assets。

里面既有文字的讨论也有具体的会计处理。

每一个问题的两个方面先做哪一个都可以。

就中国学员而言，大家对计算都很熟练，我建议从数字入手，逐渐建立信心最后完成文字部分。

(a) (ii) 两项pension plans的会计处理
1990 Pension Plan,从(iii)On retirement,employees are guaranteed a pension which is based upon the number of years ser vice with the company and their final salary可以看出这是一项defined benefit plan。

原因在于defined contribution plan不具备这样的特征。

另外大家在考前也做了很多IAS 19 Employee Benefits的题目，由相似的题目信息也可以知这是defined benefit plan。

题目中给了期初的和期末的discount rate and expected return on plan assets。

我们应该选择期初的rate来进行相应的计算。

原因在于rate是actuary对以后（含当期）discount rate and expected return on plan assets所做的的估计，期末出现差异时以actuarial gains or losses进行调整。

2006 pension plan 由题干信息Macaljoy does not guarantee any return on the contributions paid into the fund.The company’s legal and constructive obligation is limited to the amount that is contributed to the fund.可知这是一项defined contribution plan。

其实这一句话的侧面也告诉了我们the business做了相应的支付后不承担其他责任，也即fair value of plan assets的多少与business无关。

Contribution paid by company的会计分录为：
Dr: operating expenses 10m
Cr: cash 10m
Contribution paid by employees的会计分录为：
Dr: wages 10m
Cr: cash 10m
(i) 经过一些数字的计算，大家逐渐树立了对文字的信心.这一部分也要回答两个部分内容，一为nature,二为differences，需注意的是specific reference to the company.
我们可以这部分的答案放在一个table里面，比起整段的文字来作答显得更加清晰和明
此外大家在看examiner给的参考答案的时候会看到对curtailment的解释，其实在这道题目里我觉得不需要作解释。

老人老办法，新人新办法，这对报表方面没什么大的影响。

我觉得可以不写，按照我上面整理补充的要点回答这道题目应该绰绰有余。

(b) 同样我们从(ii)开始，根据IAS 37 Provisions, Contingent Liabilities and Contingent Assets，Provision视不同的情况分为两种方式，一、one-off item,采取best estimate的办法；二、large population items采取weighted average的办法。

本题涉及到的是第二种情况。

在题目的会计期内，
st
Present value为(30+50+75+125)/(1+4%)=269
nd
对于这一部分的(i)，基本上可以等同于把上面的计算的依据做一个阐述。

首先离不开provision的定义, A liability of uncertain timing or amount.然后是在什么条件下可以确
认provision。

IAS 37给出了三个必备的条件，An entity must recognise a provision under IAS37 if,and only if:
(a)a present obligation(legal or constructive)has arisen as a result of a past event(the obligating event)
(b)i t is probable(‘more likely than not’),that an outflow of resources embodying economic
benefits will be required to settle the obligation
(c)t he amount can be estimated reliably
其实对于这三个条件我的理解是：根源在provision的definition。

其中包含Liability一词，而liability的概念又指的是A present obligation of the entity arising from past events,
the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.在provision的定义里另外两个要素分别是uncertain timing和uncertain amount。

在确认条件里相对应的就是(b)和(c)了。

按这样的思路，大
家不难写出来。

上面我们已经完成了(ii)部分，关于计算方式可以做如下文字说明。

The amount recognised as a provision should be the best estimate of the expenditure required to settle the present obligation at the balance sheet date,that is,the amount that an enterprise would rationally pay to settle the obligation at the balance sheet date or to transfer it to a third par t y.This means provisions for large populations of events such as warranties,are measured at a probability weighted expected value.In reaching its best estimate,the entity should take into account the risks and uncertainties that surround the underlying events.
Expected cash outflows should be discounted to their present values, where the effect of the time value of money is material using a risk adjusted rate (it should not reflect risks for which future cash flows have been adjusted).
题目中提到了the company has insured against the cost of the second year of the warranty.提醒大家注意关于这一项的做法，也即，题目中的所有用语大家都要注意，一方面这是题目信息，另一方面这也是做题的答案来源之处。

意味着大家需要做相应的解释。

If some or all of the expenditure required to settle a provision is expected to be reimbursed by another party,the reimbursement should be recognised as a separate asset when, and only when, it is virtually certain that reimbursement will be received if the entity settles the obligation. The amount recognised should not exceed the amount of the provision. In measuring a provision future events should be considered.
The provision for the warranty claim will be determined by using the expected value method.
The past event which causes the obligation is the initial sale of the product with the warranty given at that time. It would be appropriate for the company to make a provision for the Year 1 warranty of $280,000 and Year 2 warranty of $350,000, which represents the best estimate of the obligation. Only if the insurance company have validated the counter claim will Macaljoy be able to recognise the asset and income.
Recovery has to be virtually certain. If it is virtually certain, then Macaljoy may be able to recognise the asset. Generally contingent assets are never recognised, but disclosed where an inflow of economic benefits is probable.
3 Ghorse,a public limited company,operates in the fashion sector and had undertaken a group
re-o rganisation during the current financial year to31October2007.As a result the
following events occurred:
(a)Ghorse identified two manufacturing units,Cee and Gee,which it had
decided to dispose of in a single transaction.These units comprised non-current assets only.One of the units,Cee,had been impaired prior to the financial year end on30 September2007and it had been written down to its recoverable amount of$35million. The criteria in IFRS5,‘Non-current Assets Held for Sale and Discontinued Operations’,for
classification as held for sale,had been met for Cee and Gee at30September2007.The following information related to the assets of the cash generating units at30September
2007:
The fair value less costs to sell had risen at the year end to$40million for Cee and$95 million for Gee.The increase in the fair value less costs to sell had not been taken into account by Ghorse.(7marks)
(b)As a consequence of the re-o rganisation,and a change in government legislation,the
tax authorities have allowed a revaluation of the non-current assets of the holding company for tax purposes to market value at31October 2007.There has been no change in the carr ying values of the non-current assets in the financial statements. The tax base and the carr ying values after the revaluation are as follows:
Carr ying amount Ta x base at Ta x base at
at31October31October200731October2007
20after revaluation b efore revaluation
$$$m
P r oper ty5648
V e hicles3328
Other taxable temporar y differences amounted to$5million at31October2007.Assume income tax is paid at 30%.The deferred tax provision at31October2007had been calculated using the tax values before revaluation.(6marks)
(c)A subsidiar y company had purchased computerised equipment for$4million on31 October2006to improve the manufacturing process.Whilst re-o rganising the group, Ghorse had discovered that the manufacturer of the computerised equipment was now selling the same system for$2·5million.The projected cash flows from the equipment are: Y e ar ended31October C ash flows
$
m
20081·3
20092·2
20102·3
The residual value of the equipment is assumed to be zero.The company uses a discount rate of10%.The directors think that the fair value less costs to sell of the equipment is$2 million.The directors of Ghorse propose to write down the non-current asset to the new selling price of$2·5million.The company’s policy is to depreciate its computer equipment by25%per annum on the straight line basis.(5marks)
(d)The manufacturing proper ty of the group,other than the head office, was held on an operating lease over 8years.On re-o rganisation on31October
2007,the lease has been renegotiated and is held for12years at a rent of$5million per annum paid in arrears.The fair value of the proper ty is$35million and its remaining economic life is13years.The lease relates to the buildings and not the land.The factor to be used for an annuity at10%for12years is6·8137.(5marks)
The directors are worried about the impact that the above changes will have on the value of its non-current assets and its key per f ormance indicator which is‘R eturn on Capital Employed’(ROCE).ROCE is defined as operating profit before interest and tax divided by share capital,other reser ves and retained earnings.The directors have calculated ROCE as $30million divided by$220million,i.e.13·6%before any adjustments required by the above. F o rmation of opinion on impact on ROCE.(2marks)
Re q ui red:
Discuss the accounting treatment of the above transactions and the impact that the resulting adjustments to the financial statements would have on ROCE.
Note:your answer should include appropriate calculations where necessar y and a discussion of the accounting principles involved.(25marks)
题目解析:
题目一方面要求解决每一项目的会计处理，另一方面也就每一项阐述其调整对ROCE的影响。

尤其是后面的一个问题，大家是不能忽略的。

不妨先把它highlight出来，以防最后把它忘记。

(a) Non-current assets 和non-current assets held for sale的差异主要体现：No depreciation should be charged while a non-current asset is classified as held for sale.
这道题目看起来好像考的是IFRS 5，实际上它测试的还是IAS 36 Impairement loss的问题。

题目信息中已经很明确提出the two units 符合IFRS 5 的要求。

并且to be disposed of in a single transaction。

答案可以分成两个部分，第一是impairement loss的确认问题。

The two units并无明显差异，只是在归类为held for sale之前要单项确认，归类之后作为一个unit来确认。

在这之前如果不能单独确认其recoverable amount 时，也是找其cash generating unit。

如果是从一个unit的角度出发，发生impairment loss时需选择合适的分配方案。

值得一说的是impairment loss在应用其他会计标准时如果以前该项有revaluation的盈余，则可以作为revaluation reserve的减少；而对于non-current assets held for sale而言，因为其不存在revaluation的问题，所以只出现在profit and loss account里面。

The measurement basis required for non-current assets held for sale is applied to the group as a whole and any impairment loss will reduce the carr ying amount of the non-current assets in the disposal group in the order of allocation required by IAS36‘Imp airment of Assets’.
这一部分的会计分录
Dr：Impairement loss(retained earnings) 15
Cr: Cee 15
第二个问题是reversal of impairment loss。

对于non-current assets held for sale 和non-current assets而言做法是一致的，均可以转回，但是reversal 是有个上限的，不可高于impairment loss 尚未发生时其在报表日的net book value。

这也就告诉了我们在报表中能够确认转回的金额。

Thus Ghorse should not increase the value of the disposal group above$105million at30 September2007as this is the carr ying amount of the assets measured in accordance with applicable IFRS immediately before being classified as held for sale(IAS36and IAS16). After classification as held for sale,the disposal group will remain at this value as this is the lower of the carr ying value and fair value less costs to sell,and there is no impairment recorded as the recoverable amount of the disposal group is in excess of the carr ying value. At a subsequent repor t ing date following initial classification as held for sale the disposal group should be measured at fair value less costs to sell.However,IFRS5 allows any subsequent increase in fair value less costs to sell to be recognised in profit or loss to the extent that it is not in excess of any impairment loss recognised in accordance with IFRS5or previously with IAS36.Thus any increase in the fair value less costs to sell can be recognised as $15 m
这一部分的会计分录为
Dr: Cee and Gee 15
Cr: reversal of impairment loss (retained earnings) 15
使得后一个月的profit发生了变化，报表日该资产组合的价值以$120m入账。

对ROCE的影响在于分子增加，而分母未变。

最后的结果变大。

(b)这一项影响考查的是IAS 12 income tax。

其难点部分在于对deferred tax的确认上。

按照IAS 12只有temporary difference才能够确认deferred tax。

根据题目信息它们符合deferred tax的确认条件。

当Tax base大于carrying amount时为deductible temporary difference，确认为deferred tax assets；当tax base小于carrying amount时为taxable temporary difference，确认为deferred tax liabilities。

Ghorse现在的做法是
Carr ying Ta x T emporar y
Amount Base Difference
$m$m$m
P r oper ty50482
V e hicles30282
4
Other taxable temporar y differences5
9
The deferred tax liability is $9million x30%,i.e.$2.7million
正确的做法是
Carr ying Ta x T emporar y
Amount Base Difference
$m$m$m
P r oper ty506515
V e hicles30355
Other taxable temporar y differences(5)
15
The deferred tax asset would be$15million x30%,i.e.$4·5 million subject to there being sufficient taxable profit.
调整的金额应该是增加$7.2million.
相应的会计分录为
Dr：deferred tax liability 2.7 m
Dr：deferred tax assets 4.5 m
Cr: income tax 7.2 m
本项最后应注意的是The recognition of deferred tax assets will result in the recognition of income, in the income statement.This amount cannot be repor t ed in equity as IAS1 2only allows deferred tax to be recognised in equity if the corresponding entr y is recognised in equity.This is not the case in this situation as the revaluation was not recognised for IFRS purposes.
对于ROCE的影响在于，分子PBIT没有发生变化，因为income tax是PBIT 后面的项目，但是分母增加了deferred tax assets，整个ROCE变小了。

(c) 这仍是一个impairment loss的问题，按照IAS 36 impairment loss 的要求，在报表日企业需要通过external and internal indicators来进行impairment test，看是否确实发生impairment loss。

The manufacturer has reduced the selling price是one external indicator，但并不能说明肯定发生了impairment loss，如(a)中所述，impairment loss发生在carrying amount 大于了recoverable amount。

而recoverable amount不仅仅取决于fair value less cost to sell的大小，它是higher of fair value less cost to sell和value in use.这一点在题目中都直接或间接的给了出来，对大家做题而言不难想到这一点。

(i)本题value in use的计算如下
Year ended Cash Discounted
31 October flows (10%)
$m $m
2008 1.3 1.2
2009 2.2 1.8
2010 2.3 1.7
Value in use 4.7
(ii) The fair value less costs to sell of the asset $2 million.
(iii) the recoverable amount is $4·7 million，
(iv) recoverable amount is higher than the carrying value of $3 million and, therefore, the equipment is not impaired
对于ROCE，因为分子分母都没因此发生变化，所以对ROCE 没有影响。

补充(i),这道题目如果是发生了impairment loss，则要考虑的项目会更多一些。

比如，以后期折旧的计算和impairment loss的会计处理等等。

补充(ii),如果时间上来得及可以对value in use等术语进行一下解释或说明。

这样会带给大家good luck的分数。

(d) 这一项相对来说更加简单了，涉及IAS 17 leasing的问题，无外乎就是operating lease 还是financing lease。

Fiancing lease的判断不是按照法律上或形式上的title（所有权）作为标准，而是看risk and rewards 是否发生转移，具体的表现形式有很多，主要在时间和金额上。

时间上，Lease term是否占economic life的大部分；金额上，present value of leasing expenditure是否占fair value的大部分。

在没有其他相反的证据的情况下，如果答案是yes，我们可以视其为financing lease。

对于题目中的项目而言，上面两项都满足。

时间上：12/13=92%
金额上5*6.8137/35=97%。

所以在re-organisation之后，可以视其为financing lease。

（曾有学生问过我这个数字怎么来定，究竟多大的比率才可以说是大部分。

其实单就数量而言，这的确存在主观的判断。

我们在考试时所遇到的，大家不难用common sense区分出来什么是大部分，完全不需要担心出现50%左右的结果出来，即使出现了，也不用担心。

我们的原则是定性判断为主，即risk and rewards是否发生了转移）
对此的会计分录为：
Dr: Property 34m
Cr: finance leased liability 34m
这一项对于ROCE的影响，分子没有变化，分母asset and liability增加同样的金额，结果不变。

所以不影响ROCE。

最后，可汇总四项对ROCE总的影响：
Adjusted ROCE
P r ofit before tax and interest30
add increase in value of disposal group(a) 15
45
Capital employed220
add increase in value of disposal group(a) 15
Deferred tax asset(4·5+2·7) (b) 7.2
242.2
Adjusted ROCE 45/242.2=18.6%
The directors对于ROCE的担心是没必要的，不但没下降，而且还上升了。

4. The International Accounting Standards Board(IASB)has begun a joint project to revisit its
conceptual framework for financial accounting and repor t ing.The goals of the project are to build on the existing frameworks and converge them into a common framework.
Re q ui red:
(a)D iscuss why there is a need to develop an agreed international conceptual framework
and the e x tent to which an agreed international conceptual framework can be used to resolve practical accounting issues.(13marks)
(b)D iscuss the key issues which will need to be addressed in
determining the basic components of an internationally agreed conceptual
framework.(10marks)
Appropriateness and quality of discussion.(2marks)(25marks)
题目解析：
(a)主观题，没有完全正确和错误之分。

要想答好这样的题目，大家需要多阅读有关的期刊和报纸，
比如，会计研究、中国审计报等等。

在借鉴其他人的想法的基础之上，形成自己的观点和想法，这有助于提高大家的能力，而非是照抄照搬。

尤其是随着经济环境的不断变化和交易形式的多样化，新问题需要你我来解决。

下面的资料仅供参考：
会计准则作为一种能降低交易费用的契约安排，在国际会计准则的经济功能中表现更为明显。

假如没有国家主权因素及民族沙文主义等非经济因素掺杂在内，国际会计准则将会有效地降低国际交易的费用如直接参与交易各方的费用（如资本投资者和提供者的信息交易费用），各国准则制定机构制定准则及其运行的费用等。

因此建立全世界一统的会计体系尤其是会计准则的确可以为国际经济资源的高效率配置提供基础，也正因为建立全球会计的好处似乎显而易见，一个神话才诞生。

但各国政治、经济、文化等差异消除与趋同的渐进性，使得我们只能将全球会计作为国际会计协调的极限目标而不是现实目标
大家也需要关注中国企业会计准则的改革，不能只知国外，不知国内，新企业会计准则关于会计概念框架的制定对于这道题目的回答来说也大有益处。

首先，我国仍然需要有一套财务会计的基本理论体系，指导我国会计改革和发展的实践，为我国制定会计准则、会计制度，以及相关的会计法规的依据，为其制定提供理论指导。

我国当前会计准则、会计制度制定过程中遭遇的一些问题，彰显了制定发布我国财务会计概念框架的必要性。

如一些会计准则、会计制度相互之间出现不太协调的情况；前后不同时间发布的会计准则中规定的具体内容不能体现一以贯之的会计理念；某些经济业务的会计处理方法存在着实用主义的做法、为一时所需的机会主义的做法。

更有甚者，特别是在财政部以外的其他部门所起草的法规中，存在着一些与会计理论的要求不符合的规定和做法。

这些规定和做法，或是出于某些特定目的的需要，或是出于某些特定部门的利益的需要，明显偏离会计理论、会计基本概念的要求。

如果我们存在有一个各方认可共用接受的财务会计概念框架，或许这些问题都是可以避免的，或是可以得到有效克服的，同时也有利于我国的财务会计法规体系更为科学合理，进一步保障我国财务会计信息的可靠性和真实性。

此外，如果存在一套相对完善的财务会计概念框架，也可以使我们进一步厘清会计的职能，使会计保持本来的面目，免于会计本身承担不应承担的职能。

会计就是会计，会计并不能承受其它之重。

从财务会计来说，更大程度上是一个信息系统，主要功能是为外部会计信息使用者提供企业从事生活经营活动所形成的财务信息。

试图要求会计承担一些非会计方面的职能，未必有利于会计职能作用的发挥，也未必有利于会计工作重要性的提高。

其次，我们需要有一套财务会计理论体系，为会计实务的发展提供指导。

制定一项会计准则和会计制度，总是用于规范现存的经济业务的会计处理的，并且是对现存经济业务的会计处理规范做法的总结。

因此，会计实务的发展是会计准则和会计制度制定的先导和前提。

各国会计准则的发展历史，都充分说明了这一点。

制定发布的会计准则和会计制度总是滞后的，随着时间的流逝，随着经济业务的发展，其滞后性将表现得越来越明显。

已发布的会计准则、会计制度，在丰富多彩的经济生活中，总是表现出其不适应性。

在经济全球化趋势日益加剧的今天，制度创新和业务创新层出不穷，给会计核算带来一系列新的问题和新的要求。

如何对这些创新的业务进行核算，如何规范其核算，是会计工作必须直面的现实问题。

如随着金融创新，使得各种新金融工具大量运用，规范其核算和相关信息的披露，是国际会计界当前必须着力解决的课题，特别是美国出现安然事件之后，人们对金融工具的会计核算更为关注。

解决这些问题，均需要会计实务创新，而会计实务的创新则依赖于一以贯之的会计理论提供指导，即需要财务会计概念框架，以满足会计实务发展及时性的需要。

否则，新经济业务的出现、会计实务的创新，则缺乏先后一致的会计理论体系的指导，势必导致会计实务发展的混乱，也为此后会计实务的规范增加难度。

最后，通过制定我国的财务会计概念框架，可以对我国此前的会计理论研究进行总结，为未来财务会计理论研究的进一步深入提供基础，也为会计教学提供指导。

理论必须是发展的，只有发展的理论才有生命力。

改革开放以来，特别是20世纪90年代的会计改革以来，我国的会计理论研究空前繁荣，在吸收借鉴国外会计理论的同时，结合我国会计改革和发展的实践，我国会计理论也有所创新和发展。

对某些理论问题，存在着多种不尽相同的观点和看法。

为此，需要对我国会计理论的研究成果进行总结归纳，以形成系统的理论体系，在指导会计改革与发展实践的同时，为会计理论研究的深化提供基础。

即通过财务会计概念框架的制定，对各个会计理论问题的不同观点、不同看法和不同思路进行梳理，尽可能形成对某些问题的共识，为我国会计理论的进一步发展奠定基础。

财务会计概念框架的作用：
第一，财务会计概念框架的出现是制定高质量的会计准则的需要。

传统的财务会计理论侧重于描述性，缺乏一套首尾一贯的理论框架。

由于一些重要的会计文献先后观点不一，以其为依据制定的会计准则难免出现混乱的情况。

当时会计准则乃至于近期各国会计准则存在的问题，则充分说明了这一点。

这样，为了制定高质量的前后一致的会计准则，需要有一套相对比较完整的会计理论体系提供指导；为对现存的会计准则进行评估，同样需要一套完整的会计理论体系提供指导。

再加上会计准则作为会计核算规范的一个重要组成部分，其制定过程在某种程度上是一个政治的过程，是不同利益集团在会计准则制定过程中相互协调的产物。

某一强势利益集团的利益要求不可避免更多地反映于会计准则之中，也就是说，在会计准则的制定过程中受某些强势利益集团利益要求的影响，使得在会计准则在制定过程中，对不同的会计理论观点采取各取所需的做法，从而加大会计准则偏离会计理论的可能性。

在这种情况下，如果有一套相对较为完整的财务会计概念框架，前后一致地为会计准则的制定提供理论指导，则可能大大提高制定高质量会计准则的可能性。

对于既存的会计准则，也需要有一套完整的财务会计概念框架，对其进行评估和检验，确认其前后内容是否一致，是否科学合理。

第二，财务会计概念框架是会计实务发展的需要。

财务会计概念框架作为财务会计所应用的基本概念所组成的理论体系，是指导和评价会计实务的理论依据。

在财务会计概念框架产生之前，无论是美国还是西方其他发达国家制定会计准则的理论依据，主要来源于会计职业团体及一些著名会计学家的有关专题研究报告。

这些专题研究报告不可避免带有个别组织或个人的色彩，特别在不同组织和个人对某一问题有着不同观点和理论的情况下，以其作为指导会计实务的依据，不可避免导致会计实务的混乱。

此外，进入20世纪70年代以后，传统的会计理论概念受到了严重的冲击，如企业兼并、融资租赁、物价变动影响、各种金融工具的出现等，会计准则的发展滞后于客观经济形势的发展变化，不能满足会计业务发展的需要。

特别是随着全球经济一体化趋势的加剧，各种经济业务创新需要会计处理方法和程序的相应创新。

而要求对某一项创新的经济业务制定出一项相应的会计准则，及时地满足其会计核算的需要，是不现实的也是不可能做到的。

因为任何一项会计处理方法和程序都需要有一个发展完善和成熟的过程，而只有当某一会计方法和程序广为接受和认可时，才有可能成为公认会计原则的一个组成部分，才可能制定一项专门准则对该创新经济业务的会计核算作出规范。

在这种情况下，就需要有一套前后一致的财务会计概念框架、一套相对完善的财务会计理论体系，为创新经济业务的会计核算提供理论指导，以及时满足新出现的经济业务会计核算的需要。

在现行会计准则未对新经济业务的会计处理作出规范的情况下，财务会计概念框架对会计实务的指导作用表现得尤为明显，即表现为对会计实务发展的指导作用。

第三，财务会计概念框架是会计信息使用者阅读和理解会计信息的需要。

会计信息的有效使用至少涉及到两个方面：一方面是会计信息的提供者必须按照会计准则编制提供会计信息；另一方面则是会计信息的使用者充分理解财务报表所提供的信息，以掌握会计信息后面所反映的企业生产经营的真实情况。

从会计信息使用者的角度来说，总是基于一定的财务会计知识和会计理论背景来理解某一企业对外提供财务报表中的各项数据的。

在会计信息提供者按照会计准则提供真实可靠的会计信息的前提下，对该企业提供的会计信息的理解则取决于使用者本人所掌握的财务会计知识和会计理论知识。

而财务会计概念框架正可以为会计信息的使用者提供其理解财务报表所必要的会计理论知识。