会计信息质量外文文献及翻译

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会计信息失真 外文文献译文及原文

会计信息失真   外文文献译文及原文

封面目录1 绪论 (3)1 Introduction (4)2 会计信息失真的原因 (5)2.1 会计法律法规体系的局限性 (5)2.2 会计工作人员的疏漏 (5)2.3 职业道德的背离 (5)2.4 政府监管机制不完善 (6)2 The reason of the accounting information distortion (7)2.1 The limitation of accountant laws and regulations system (7)2.2 The accountancy fault (7)2.3 Occupational ethics deviating (8)2.4 The imperfect government mechanism (8)3 会计信息失真的对策 (9)3.1 建立标准化的会计准则,加强会计制度的建设 (9)3.2 建立和完善公司内部监管体系 (9)3.3 完善会计人员监管体系,加大违规的惩处力度 (9)3.4 完善职业资格证制度,加大后续教育的力度,提高会计人员的综合素质 (10)3 The Countermeasure of Accounting Information Distortion (11)3.1 Standard accounting guide line and strengthen the construction of accounting system .. 113.2 Establishing and perfecting enterprise internal control system. (11)3.3 Perfecting accountant supervises system, enhancing punishment. (12)3.4 Consummating employed qualifications system, enhancing following education,improving the accountant quality comprehensively. (12)4 结论 (14)Conclusions (15)摘要这些年,会计信息失真已经影响到了社会经济秩序,本文主要分析了我国会计信息失真产生的原因,及其对策。

会计专业外文文献及译文

会计专业外文文献及译文

外文文献及翻译题目:The Important Of Financial Risk 题目: 财务风险重要性分析The Important Of Financial RiskAbstract:This paper examines the determinants of equity price risk for a large sample of non-financial corporations in the United States from 1964 to 2008. We estimate both structural and reduced form models to examine the endogenous nature of corporate financial characteristics such as total debt, debt maturity, cash holdings, and dividend policy. We find that the observed levels of equity price risk are explained primarily by operating and asset characteristics such as firm age, size, asset tangibility, as well as operating cash flow levels and volatility. In contrast, implied measures of financial risk are generally low and more stable than debt-to-equity ratios. Our measures of financial risk have declined over the last 30 years even as measures of equity volatility (e.g. idiosyncratic risk) have tended to increase. Consequently, documented trends in equity price risk are more than fully accounted for by trends in the riskiness of firms’ assets. Taken together, the results suggest that the typical U.S. firm substantially reduces financial risk by carefully managing financial policies. As a result, residual financial risk now appears negligible relative to underlying economic risk for a typical non-financial firm.Keywords:Capital structure financial risk risk management corporate financeIntroductionThe financial crisis of 2008 has brought significant attention to the effects of financial leverage. There is no doubt that the high levels of debt financing by financial institutions and households significantly contributed to the crisis. Indeed, evidence indicates that excessive leverage orchestrated by major global banks (e.g., through the mortgage lending and collateralized debt obligations) and the so-called “shadow banking system” may be the underlying cause of the recent economic and financial dislocation. Less obvious is the role of financial leverage among nonfinancial firms. To date, problems in the U.S. non-financial sector have been minor compared to the distress in the financial sector despite the seizing of capital markets during the crisis. For example, non-financial bankruptcies have been limited given that the economic decline is the largest since the great depression of the 1930s. In fact, bankruptcy filings of non-financial firms have occurred mostly in U.S. industries (e.g., automotive manufacturing, newspapers, and real estate) that faced fundamental economic pressures prior to the financial crisis. This surprising fact begs the question,。

会计准则外文文献翻译-财务会计专业

会计准则外文文献翻译-财务会计专业

会计准则外文文献及翻译-财务会计专业(含:英文原文及中文译文)文献出处:Buschhüter M, Striegel A. IAS 37 – Provisions, Contingent Liabilities and Contingent Assets[M]// Kommentar Internationale Rechnungslegung IFRS. Gabler, 2011:955-974.英文原文Accounting Standard (AS) 37Contingent Liabilities and Contingent AssetsBuschhüter M, Striegel AThis International Accounting Standard was approved by the IASC Board in July 1998 and became effective for financial statements covering periods beginning on or after 1 July 1999.Introduction1. IAS 37 prescribes the accounting and disclosure for all provisions, contingent liabilities and contingent assets, except:(a) those resulting from financial instruments that are carried at fair value;(b) those resulting from executory contracts, except where the contract is onerous. Executory contracts are contracts under which neither party has performed any of its obligations or both parties have partially performed their obligations to an equal extent;(c) those arising in insurance enterprises from contracts with policyholders;(d) those covered by another International Accounting Standard. Provisions2. The Standard defines provisions as liabilities of uncertain timing or amount. A provision should be recognised when, and only when:(a) an enterprise has a present obligation (legal or constructive) as a result of a past event; (b) it is probable (i.e. more likely than not) that an outflow of resources embodying economic benefits will be required to settle the obligation;(c) a reliable estimate can be made of the amount of the obligation. The Standard notes that it is only in extremely rare cases that a reliable estimate will not be possible.3. The Standard defines a constructive obligation as an obligation that derives from an enterprise's actions where:(a) by an established pattern of past practice, published policies or a sufficiently specific current statement, the enterprise has indicated to other parties that it will accept certain responsibilities; (b) as a result, the enterprise has created a valid expectation on the part of those other parties that it will discharge those responsibilities.4. In rare cases, for example in a law suit, it may not be clear whether an enterprise has a present obligation. In these cases, a past event is deemed to give rise to a present obligation if, taking account of all available evidence, it is more likely than not that a present obligation exists at thebalance sheet date. An enterprise recognises a provision for that present obligation if the other recognition criteria described above are met. If it is more likely than not that no present obligation exists, the enterprise discloses a contingent liability, unless the possibility of an outflow of resources embodying economic benefits is remote.5. The amount recognized as a provision should be the best estimate of the expenditu required to settle the present obligation at the balance sheet date, in other words, the amount that an enterprise would rationally pay to settle the obligation at the balance sheet date or to transfer it to a third party at that time.6. The Standard requires that an enterprise should, in measuring a provision: (a) take risks and uncertainties into account. However, uncertainty does not justify the creation of excessive provisions or a deliberate overstatement of liabilities;(b) discount the provisions, where the effect of the time value of money is material, using a pre-tax discount rate (or rates) that reflect(s) current market assessments of the time value of money and those risks specific to the liability that have not been reflected in the best estimate of the expenditure. Where discounting is used, the increase in the provision due to the passage of time is recognised as an interest expense;(c) take future events, such as changes in the law and technological changes, into account where there is sufficient objective evidence thatthey will occur; and(d) not take gains from the expected disposal of assets into account, even if the expected disposal is closely linked to the event giving rise to the provision.7. An enterprise may expect reimbursement of some or all of the expenditure required to settle a provision (for example, through insurance contracts, indemnity clauses or suppliers' warranties). An enterprise should:(a) recognise a reimbursement when, and only when, it is virtually certain that reimbursement will be received if the enterprise settles the obligation. The amount recognised for the reimbursement should not exceed the amount of the provision; and(b) recognise the reimbursement as a separate asset. In the income statement, the expense relating to a provision may be presented net of the amount recognised for a reimbursement. 8. Provisions should be reviewed at each balance sheet date and adjusted reflect thecurrent best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provisioshould be reversed.9. A provision should be used only for expenditures for which the provision was originally recognised.Provisions - Specific Applications10. The Standard explains how the general recognition and measurement requirements for provisions should be applied in three specific cases: future operating losses; onerous contracts; and restructurings. Contingent Liabilities11. An enterprise should not recognise a contingent liability. , unless the12. A contingent liability is disclosed, as required by paragraph 86possibility of an outflow of resources embodying economic benefits is remote.13. Where an enterprise is jointly and severally liable for an obligation, the part of tobligation that is expected to be met by other parties is treated as a contingentThe enterprise recognises a provision for the part of the obligation for which an outflow of resources embodying economic benefits is probable, except in the extremely rare circumstances where no reliable estimate can be made.14. Contingent liabilities may develop in a way not initially expected. Therefore, theare assessed continually to determine whether an outflow of resources embodying probable. If it becomes probable that an outflow of economic benefits has become future economic benefits will be required for an item previously dealt with as a contingent liability, a provision is recognised in the financial statements of the period in which the change in probability occurs (except in the extremely rare circumstances where no reliable estimate can be made).Contingent Assets15. An enterprise should not recognise a contingent asset.16. Contingent assets usually arise from unplanned or other unexpected events that give rise to the possibility of an inflow of economic benefits to the enterprise. An example is a claim that an enterprise is pursuing through legal processes, where the outcome is uncertain. 17. Contingent assets are not recognised in financial statements since this may result in the recognition of income that may never be realised. However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and its recognition is appropriate. 18. A contingent asset is disclosed, as required by paragraph 89 economic benefits is probable.19. Contingent assets are assessed continually to ensure that developments are appropriately reflected in the financial statements. If it has become virtually certain that an inflow of economic benefits will arise, the asset and the related income are recognised in the financial statements of the period in which the change occurs. If an inflow of economic benefits has become probable, an enterprise discloses the contingent asset.Measurement20. 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.21. The best estimate of the expenditure required to settle the present obligation 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 party at that time. It will often be impossible or prohibitively expensive to settle or transfer an obligation at the balance sheet date. However, the estimate of the amount that an enterprise would rationally pay to settle or transfer the obligation gives the best estimate of the expenditure required to settle the present obligation at the balance sheet date. 22. The estimates of outcome and financial effect are determined by the judgement of the management of the enterprise, supplemented by experience of similar transactions and, in some cases, reports from independent experts. The evidence considered23. Uncertainties surrounding the amount to be recognised as a provision are dealt with by various means according to the circumstances. Where the provision being measured involves a large population of items, the obligation is estimated by weighting all possible outcomes by their associated probabilities. The name for thistatistical method of estimation is 'expected value'. The provision will therefore be different depending on whether the probability of a loss of a given amount is, for example, 60 per cent or 90 per cent. Where there is a continuous range of possible outcomes, and each point in that range is as likely as any other, the mid-point of thrange is used. 24. Where a single obligation is beingmeasured, the individual most likely outcome may be the best estimate of the liability. However, even in such a case, the enterprise considers other possible outcomes. Where other possible outcomes are either mostly higher or mostly lower than the most likely outcome, the best estimate will be a higher or lower amount. For example, if an enterprise has to rectify a serious fault in a major plant that it has constructed for a customer, the individual most likely outcome may be for the repair to succeed at the first attempt at a cost of1,000, but a provision for a larger amount is made if there is a significant chance that further attempts will be necessary.25. The provision is measured before tax, as the tax consequences of the provision, , Income Taxes. and changes in it, are dealt with under IAS 12,Income Taxes.Risks and Uncertainties26. The risks and uncertainties that inevitably surround many events and the best estimate of a circumstances should be taken into account in reachin the best estmeate of a provision.27. Risk describes variability of outcome. A risk adjustment may increase the amount at which a liability is measured. Caution is needed in making judgements under conditions of uncertainty, so that income or assets are not overstated and expenses or liabilities are not understated. However, uncertainty does not justify the creation of excessive provisions or adeliberate overstatement of liabilities. For example, if the projected costs of a particularly adverse outcome are estimated on a prudent basis, that outcome is not then deliberately treated as more probable than is realistically the case. Care is needed to avoid duplicating adjustments for risk and uncertainty with consequent overstatement of a provision. Present Value28. Where the effect of the time value of money is material, the amount ofa provision should be the present value of the expenditures expected to be required to settle the obligation.29. The discount rate (or rates) should be a pre-tax rate (or rates) that reflect(s) current market assessments of the time value of money and the risks specific to the liability. The discount rate(s) should not reflect risks for which future cash flow estimates have been adjusted. Future Events 30. Future events that may affect the amount required to settle an obligation should be reflected in the amount of a provision where there is sufficient objective evidence that they will occur.31. Expected future events may be particularly important in measuring provisions. For example, an enterprise may believe that the cost of cleaning up a site at the end of its life will be reduced by future changes in technology. The amount recognised reflects a reasonable expectation of technically qualified, objective observers, taking account of all available evidence as to the technology that will be available at the time of theclean-up. Thus it is appropriate to include, for example, expected cost reductions associated with increased experience in applying existing technology or the expected cost of applying existing technology to a larger or more complex clean-up operation than has previously been carried out. However, an enterprise does not anticipate the new technology for cleaning up unless it is supported by development of a completel sufficient objective evidence.32. The effect of possible new legislation is taken into consideration in measuring an existing obligation when sufficient objective evidence exists that the legislation is virtually certain to beenacted. The variety of circumstances that arise in practice makes it impossible to specify a single event that will provide sufficient, objective evidence in every case. Evidence is required both of what legislation will demand and of whether it is virtually certain to be enacted and implemented in due course. In many cases sufficient objective evidence will not exist until the new legislation is enacted.Expected Disposal of Assets33. Gains from the expected disposal of assets should not be taken into account in measuring a provision.34. Gains on the expected disposal of assets are not taken into account in measuring a provision, even if the expected disposal is closely linked to the event giving rise to the provision. Instead, an enterprise recognisesgains on expected disposals of assets at the time specified by the International Accounting Standard dealing with the assets concerned. Reimbursements35. Where some or all of the expenditure required to settle a provision is expected to be reimbursed by another party, the reimbursement should be recognised when, and only when, it is virtually certain that reimbursement will be received if the enterprise settles the obligation. The reimbursement should be treated as a separate asset. The amount recognised for the reimbursement should not exceed the amount of the provision.36. In the income statement, the expense relating to a provision may be presented net of the amount recognised for a reimbursement.37. Sometimes, an enterprise is able to look to another party to pay part or all of the expenditure required to settle a provision (for example, through insurance contracts, indemnity clauses or suppliers' warranties). The other party may either reimburse amounts paid by the enterprise or pay the amounts directly.38. In most cases the enterprise will remain liable for the whole of the amount in question so that the enterprise would have to settle the full amount if the third party failed to pay for any reason. In this situation, a provision is recognised for the full amount of the liability, and a separate asset for the expected reimbursement is recognised when it is virtuallycertain that reimbursement will be received if the enterprise settles the liability.39. In some cases, the enterprise will not be liable for the costs in question if the third party fails to pay. In such a case the enterprise has no liability for those costs and they are not included in the provision.40. As noted in paragraph 29,severally liable is a contingent liability to the extent that it is expected that the obligation will be settled by the other parties.Changes in Provisions41. Provisions should be reviewed at each balance sheet date and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision should be reversed.42. Where discounting is used, the carrying amount of a provision increases in each period to reflect the passage of time. This increase is recognised as borrowing cost.Use of Provisions43. A provision should be used only for expenditures for which the provision was originally recognised.44. Only expenditures that relate to the original provision are set against it. Setting expenditures against a provision that was originally recognised for another purpose would conceal the impact of two different events.Future Operating Losses45. Provisions should not be recognised for future operating losses.46. Future operating losses do not meet the definition of a liability in paragraph 10.the general recognition criteria set out for provisions in paragraph 1447. An expectation of future operating losses is an indication that certain assets of the operation may be impaired. An enterprise tests these assets for impairment under IAS 36, Impairment of Assets.Onerous Contracts48. If an enterprise has a contract that is onerous, the present obligation under the contract should be recognised and measured as a provision. 49. Many contracts (for example, some routine purchase orders) can be cancelled without paying compensation to the other party, and therefore there is no obligation. Other contracts establish both rights and obligations for each of the contracting parties. Where events make such a contract onerous, the contract falls within the scope of this Standard and a liability exists which is recognised. Executory contracts that are not onerous fall outside the scope of this Standard. 50. This Standard defines an onerous contract as a contract in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The unavoidable costs under a contract reflect the least net cost of exiting from the contract, which is the lower ofthe cost of fulfilling it and any compensation or penalties arising from failure to fulfil it.51. Before a separate provision for an onerous contract is established, an enterprise recognises any impairment loss that has occurred on assets dedicated to that contract(see IAS 36, Impairment of Assets). Restructuring52. The following are examples of events that may fall under the definition of restructuring: (a) sale or termination of a line of business; (b) the closure of business locations in a country or region or the relocation of business activities from one country or region to another; (c) changes in management structure, for example, eliminating a layer of management; (d) fundamental reorganisations that have a material effect on the nature and focus of the enterprise's operations.53. A provision for restructuring costs is recognised only when the general recognition are met. Paragraphs 72-83 set out how criteria for provisions set out in paragraph 14the general recognition criteria apply to restructurings.54. A constructive obligation to restructure arises only when an enterprise:(a) has a detailed formal plan for the restructuring identifying at least: (i) the business or part of a business concerned;(ii) the principal locations affected;(iii) the location, function, and approximate number of employees whowill be compensated for terminating their services;(iv) the expenditures that will be undertaken;(v) when the plan will be implemented;(b) has raised a valid expectation in those affected that it will carry out the restructuring by starting to implement that plan or announcing its main features to those affected by it. . Evidence that an enterprise has started to implement a restructuring plan would be provided, 55for example, by dismantling plant or selling assets or by the public announcement of the main features of the plan. A public announcement of a detailed plan to restructure constitutes a constructive obligation to restructure only if it is made in such a way and in sufficient detail (i.e. setting out the main features of the plan) that it gives rise to valid expectations in other parties such as customers, suppliers and employees (or their representatives) that the enterprise will carry out the restructuring.56. For a plan to be sufficient to give rise to a constructive obligation when communicated to those affected by it, its implementation needs to be planned to begin as soon as possible and to be completed in a timeframe that makes significant changes to the plan unlikely. If it is expected that there will be a long delay before the restructuring begins or that the restructuring will take an unreasonably long time, it is unlikely that the plan will raise a valid expectation on the part of others that theenterprise is at present committed to restructuring, because the timeframe allows opportunities for the enterprise to change its plans.57. A management or board decision to restructure taken before the balance sheet date does not give rise to a constructive obligation at the balance sheet date unless the enterprise has, before the balance sheet date:(a) started to implement the restructuring plan;(b) announced the main features of the restructuring plan to those affected by it in a sufficiently specific manner to raise a valid expectation in them that the enterprise will carry out the restructuring. In some cases, an enterprise starts to implement a restructuring plan, or announces its main features to those affected, only after the balance sheet date. Disclosure may be , Events After the Balance Sheet Date, if the restructuring is of required under IAS 10 such importance that its non-disclosure would affect the ability of the users of the financial statements to make proper evaluations and decisions.58. Although a constructive obligation is not created solely by a management decision, an obligation may result from other earlier events together with such a decision. For example, negotiations with employee representatives for termination payments, or with purchasers for the sale of an operation, may have been concluded subject only to board approval. Once that approval has been obtained and communicated to the other parties, the enterprise has a constructive obligation to restructure, if theconditions of paragraph 72 are met.. 59. In some countries, the ultimate authority is vested in a board whose membership gement (e.g. employees) includes representatives of interests other than those of managment.or notification to such representatives may be necessary before the board decision is taken. Because a decision by such a board involves communication to these representatives, it may result in a constructive obligation to restructure.60. No obligation arises for the sale of an operation until the enterprise is committed to the sale, i.e. there is a binding sale agreement.61. Even when an enterprise has taken a decision to sell an operation and announced that decision publicly, it cannot be committed to the sale until a purchaser has been identified and there is a binding sale agreement. Until there is a binding sale agreement, the enterprise will be able to change its mind and indeed will have to take another course of action if a purchaser cannot be found on acceptable terms. When the sale of an operation is envisaged as part of a restructuring, the assets of the operation , Impairment of Assets. When a sale is only are reviewed for impairme-ent under IAS 36part of a restructuring, a constructive obligation can arise for the other parts of the restructuring before a binding sale agreement exists.62. A restructuring provision should include only the direct expenditures arising form the restrict-uring,which are those that are both:(a) necessarily entailed by the restructuring; and(b) not associated with the ongoing activities of the enterprise.63. A restructuring provision does not include such costs as:(a) retraining or relocating continuing staff;(b) marketing; or(c) investment in new systems and distribution networks.These expenditures relate to the future conduct of the business and are not liabilities for restructuring at the balance sheet date. Such expenditures are recognised on the same basis as if they arose independently of a restructuring.64. Identifiable future operating losses up to the date of a restructuring are not included in a provision, unless they relate to an onerous contract as defined in paragraph 10. , gains on the expected disposal of assets are not taken65. As required by paragraph 51into account in measuring a restructuring provision, even if the sale of assets is envisaged as part of the restructuring.Disclosure66. For each class of provision, an enterprise should disclose:(a) the carrying amount at the beginning and end of the period;(b) additional provisions made in the period, including increases toexisting provisions; (c) amounts used (i.e. incurred and charged against the provision) during the period; (d) unused amounts reversed during the period; and(e) the increase during the period in the discounted amount arising from the passage of time and the effect of any change in the discount rate. Comparative information is not required67. An enterprise should disclose the following for each class of provision:(a) a brief description of the nature of the obligation and the expected timing of any resulting outflows of economic benefits;(b) an indication of the uncertainties about the amount or timing of those outflows. Where necessary to provide adequate information, an enterprise should disclose the major assumptions made concerning future events, as addressed in paragraph 48(c) the amount of any expected reimbursement, stating the amount of any asset that has been recognised for that expected reimbursement.68. Unless the possibility of any outflow in settlement is remote, an enterprise should disclose for each class of contingent liability at the balance sheet date a brief description of the nature of the contingent liability and, where practicable:;(a) an estimate of its financial effect, measured under paragraphs 36(b) an indication of the uncertainties relating to the amount or timing of any outflow; (c) the possibility of any reimbursement.69. In determining which provisions or contingent liabilities may be aggregated to form a class, it is necessary to consider whether the nature of the items is sufficiently similar for a single statement about them to fulfil the requirements of paragraphs 85(a)and (b) and 86(a) and (b). Thus, it may be appropriate to treat as a single class of provision amounts relating to warranties of different products, but it would not be appropriate to treat as a single class amounts relating to normal warranties and amounts that are subject to legal proceedings.70. Where a provision and a contingent liability arise from the same set of -86 in a circumstances, an enterprise makes the disclosures required by paragraphs 84 that shows the link between the provision and the contingent liability.71. Where an inflow of economic benefits is probable, an enterprise should disclose a brief description of the nature of the contingent assets at the balance sheet date, and, where practicable, an estimate of their financial effect, measured using the principles set out for provisions in paragraphs 3672. It is important that disclosures for contingent assets avoid giving misleading ndications of the likelihood of income arising.73 In extremely rare cases, disclosure of some or all of the information required by paragraphs 84-89 can be expected to prejudice seriously the position of the enterprise a dispute with other parties on the subject matterof the provision, contingent or contingent asset. In such cases, an enterprise need not disclose the information, but should disclose the general nature of the dispute, together with the fact that, and reason why, the information has not been disclosed. Transitional Provisions74. The effect of adopting this Standard on its effective date (or earlier) should be reported as an adjustment to the opening balance of retained earnings for the period in which the Standard is first adopted. Enterprises are encouraged, but not required, to adjust the opening balance of retained earnings for the earliest period presented and to restate comparative information. If comparative information is not restated, this fact should be disclosed. , Net Profit or Loss for the75. The Standard requires a different treatment from IAS 8requires Period, Fundamental Errors and Changes in Accounting Policies. IAS 8comparative information to be restated (benchmark treatment) or additional pro forma comparative information on a restated basis to be disclosed (allowed alternative reatment) unless it is impracticable to do so.。

会计准则与会计信息质量外文翻译文献编辑

会计准则与会计信息质量外文翻译文献编辑

文献信息:文献标题:Effect of information quality due accounting regulatory changes: Applied case to Mexican real sector(会计准则的变化对会计信息质量的影响:以墨西哥实体行业为例)国外作者:HHG Sánchez,KAC Alejandro,ABM Sáenz,et al文献出处:《Contaduría Y Administración》,2017,62:761-774字数统计:英文2232单词,12176字符;中文3801汉字外文文献:Effect of information quality due accounting regulatory changes: Applied case to Mexican real sector Abstract The purpose of this paper is to examine whether changes in accounting standards improve value relevance of financial information on listed companies in Mexico. The research was conducted for the period 2000–2013 using a sample of 141 companies that report to the Mexican stock exchange using the methodology of panel data. Our findings show that changes in local regulations (generally accepted accounting principles) to internationally approved standards (Financial Reporting Standards and International Financial Reporting Standards) increase the value relevance and therefore the quality of information. The study shows that the accounting information with international Financial Reporting Standards is more trustworthy for foreign and national investors.Keywords:Quality of accounting information; Financial Reporting Standards; International Financial Reporting Standards; Accounting principlesIntroductionThe research done regarding the quality of the accounting information is of interest to different agents such as the institutions that issue standards, e.g., the FASB(Financial Accounting Standards Board) or the IASB (International Accounting Standards Board), financial intermediaries, regulatory bodies, researchers and academics, and in general, to the users of financial statements for the making of decisions.Our work contributes to the debate on whether the adoption of the accounting standards adapted throughout the period of 2000 to 2013 are associated with the improvement of the quality of accounting information. The objective of this work is to analyze if the changes in the accounting standards improve the evaluative relevance of the financial information in listed companies in Mexico. We intend to show if the variables of accounting profit and book value of the net worth are associated with the market value of the companies listed in the Mexican Stock Exchange.Our discoveries show that the changes from local standards (Generally Accepted Accounting Principles) to internationally homologated standards (International Financial Reporting Standards) increase the evaluative relevance and therefore the quality of the information.Theoretical frameworkQuality of the accounting informationThe accounting information is used to understand the economic reality of the company in order to make adequate decisions, so that it should be defined through the quality of the same (Dumitru, 2011). Said quality of the accounting information has been receiving greater attention due to the recent accounting scandals. However, despite the increasing importance given to this issue, the quality of accounting remains a vague term which is difficult to define (Bartov et al., 2005; Hribar, Kravel, & Wilson, 2014).There are a great number of definitions regarding the concept of the quality of accounting information, from a quantitative approximation the following works stand out: Penamn and Zhang (2002), Dechow and Schrand (2004) and Dechow, Ge, and Schrand (2010), who define high quality through the predictive effect of the accounting income on the future valuation of the company. On the other hand, Barthet al. (2008) state that there is quality in the result when the accounting information is less manipulated, a more opportune acknowledgment of the losses is present, and an increase in the predictive capability is given by the regression between the fundamental and market variables.Dechow et al. (2010) mention that there is no measure of quality for all decision models. Other authors such as Ball, Robin, and Wu (2003), Ball and Shivakumar (2005) and Burgstahler, Hail, and Leuz (2006) state that the quality of the accounting information varies according to increase in the number of users that have access to privileged information, as this is how the asymmetry of the information is resolved in private companies.Despite the lack of a clear definition of the accounting quality, several studies use measures that are considered substitutes of accounting quality, for example, the administration of profits, the opportune acknowledgment of losses and the evaluative relevance (Barth et al., 2008). In our research, we considered the evaluative relevance to measure the quality of the information as in Francis, LaFond, Olsson, and Schipper (2004) and Agostino et al. (2011). The investigation in evaluative relevance has been fundamentally carried out in developed countries. However, there is a lack of evidence in developing countries, like in Latin America and Mexico.International Financial Reporting StandardsThe IFRS are accounting standards issued by the Financial Accounting Standards Board (IASB), an independent organization with headquarters in London, United Kingdom. They pretend to be a set of rules that, ideally, would be applied in the same manner to the financial reports by the public companies of the world. Between 1973 and 2000, the international standards were issued by the organization that preceded the IASB, the International Accounting Standards Committee (IASC). This organization was created in 1973 by professional associations of accountants in Australia, Canada, Germany, Japan, Mexico, the Netherlands, the United Kingdom and Ireland, and the United States. During this period, the rules of the IASC were described as “International Accounting Standards” (IAS).Since April 2001, this task of elaborating the standards has been undertaken by areconstructed IASB. The IASB describes its rules under the ne w label: “International Financial Reporting Standards” (IFRS), even though it continues to acknowledge (accept as rightful) the previous standards (IAS) issued by the former regulatory organization (IASC), the IASB is better financed, has better personnel and is more independent than its predecessor.For Ball (2006) there are three advantages to the adoption of the IFRS, firstly they produce economies of scale, given that they are only invented once, they would be a type of public asset, and the marginal cost of their implementation to a new company is zero. The second advantage is that they protect auditors from the manipulation of information by the administrators; and the third advantage is that they allow comparing information between different countries. This third comparability advantage facilitates the cross-border investment and the integration of the capital market (Aggarwal, Klapper, & Wysocki, 2005).In the last decade there has been an increasing interest on how the corporate reports are able to mitigate agency problems and the lack of information. The literature (Armstrong, Barth, & Riedl, 2010; Ball et al., 2003; Rawashdeh, 2003) has attempted to give an answer to issues such as whether international standards produce relevant or quality information for the investors and interested parties. Regarding this issue, for Barth et al. (2008) the IFRS are higher quality standards than the national ones, which could prove to have a “reputational effect” on the companies that voluntarily adopt them.Although, there could be differences in the implementation of IFRS derived from transparency and enforceability issues. Daske, Hail, Leuz, and Verdi (2007) found that the economic effects of the adoption of the IFRS depend on having a serious commitment to transparency. Similarly, Daske, Hail, Leuz, and Verdi (2008) concluded that the effects of the capital market in thefaceof the changes implemented by the IFRS when they are obligatory only present themselves in countries with strict regimes and where the institutional environment provides strong incentives for the companies to be transparent. It would be expected that the standard changes have a greater positive effect on developed markets.MethodologyThe sample is comprised by 141 issuing companies of the Mexican Stock Exchange (BMV) during the period of 2000–2013, considering only the real sector. For the purpose of this study, we have consulted the Economática database in order to obtain the quarterly series of accounting and market variables.In this research we intend to determine whether the fundamental accounting variables have evaluative relevance and, consequently, financial standing in the stock market in Mexico. First of all, we would like to know if there is financial standing in the Mexican market during the study period (2000–2013). To this end, based on the studies of Mohan and John (2011) and Dorantes (2013) we shall determine the significance in EBIT (Earnings before interest and taxes) and of Equity (Equity of the Company). The hypotheses would be as follows:H1: the fundamental variables (EBIT and Equity) have an impact in the capitalization of the company.In addition, we determined if the IFRS, measured as a dichotomous variable, has an impact on capitalization as determined by Agostino et al. (2011) and Cameran, Campa, and Pettinicchio (2014) in their study. Thus, our second hypothesis would be as follows:H2: the effect of the IFRS is greater than that of the GAAP and the effect of the FRS is greater than that of the GAAP.On the other hand, in order to be more conclusive with our results we divided our sample in preand post-adoption of the IFRS as with Bartov et al. (2005) and Barth et al. (2008). Furthermore, we shall demonstrate if increases in the predictive capability exist, and in order to prove this, our third and fourth hypotheses would be as follows: H3 : The EBIT (Earnings before interest and taxes) and the Equity increase their significance and value by changing the study periods of GAAP to FRS and to IFRS.H4 : The predictive capabilityincreases after moving from a period of local standards (GAAP and FRS) to aperiod of international standards (IFRS).In order to prove the first twohypotheses,weusedthefullstudyperiod,i.e.,from2000 to 2013, and for the third and four hypotheses we identified three periods: (1) GAAP from 2000 to 2005; (2) FRS from 2006 to 2011; and, (3) IFRS from 2012 to the third quarter of 2013. For the latter case the dummy variables were eliminated.ConclusionsThe market carries out its assessments differently depending on the standard implemented in its development. We determined the quality of the accounting standard measured through an increment in the evaluative relevance of the financial information. In this sense, the reliability in the accounting standards has increased since 2006, year in which the Generally Accepted Principles stopped being used and were adapted to the International Financial Reporting Standards creating the Financial Reporting Standards (FRS).This study offers important contributions for the Mexican market. First of all, foreign and national investors have certain skepticism regarding the transparency of the companies when divulging their accounting information and of the institutions responsible of monitoring the adoption of the accounting regulations (Dorantes, 2013). In this sense, our results show that the coefficients of the fundamental and control variables are significant, furthermore, the two dichotomous variables (FRS and IFRS) are also significant and positive, with the coefficient of the IFRS variable being greater than the coefficient of the FRS. This shows that the changes in the accounting standards have an impact on the quality of the information during the study period of 2000–2013, with the period of the IFRS having the greater relevance than that of the FRS. With these results, some tranquility can be provided to the investors with regard to our institutions and the transparency of our companies.Second of all, with the purpose of demonstrating a greater importance in our results and valuing the adaptation of the FRS and IFRS, we opted to cut the period in these two cases with the purpose of finding the effect in the 7 quarters after the adoption of each of these standards. Our results show that the change with greater impact in the evaluative relevance is produced when the IFRS are adapted, having been measured through the increase in the coefficients of the fundamental variablesand the predictive capability of the model , which shows that the work of the CINIF has been effective; our results are similar to those obtained by Bartov et al. (2005) and Barth et al. (2008).Third of all, regarding the advantages of the incorporation of the IFRS based on Ball (2006) and which were able to be transferred to the Mexican market on the basis of our findings, it could be that the investors could enjoy of more precise, complete and timely information that allows them to have less information asymmetry and thus decrease the problems of risk. Furthermore, the incorporation of the IFRS improved the processing of information, which betters the efficiency in the markets and the reflection of the accounting information on the stock prices. It also reduces the international comparability differences, which could eliminate barriers in acquisitions and divestments, compensating investors with an increase in the acquisition premiums.Fourth, the IFRS allow for greater quality accounting information, which improves transparency and the corporative government. Due to the fact that the IFRS are based on regulations (Barth et al., 2007), the administrators are more controlled in the manipulation of information and thus could present less agency problems, all for the benefit of the stockholders. Finally, the recognition of losses in an opportune manner results in the administrators being able to have information faster regarding the investments that are generating losses and thus navigate to investments that generate positive VPNs (Ball & Shivakumar, 2005).Finally, our findings prove the need to dedicate additional efforts to achieve a unique set of accounting standards accepted in the capital markets at an international level in order tomakesustainable the transparency made possible by both the FRS and the IFRS. We can thus conclude two things, on the one hand, investors can reliably consider accounting information as an investment criterion, on the other, company administrators must become aware that the fundamental variables of the companies can benefit or harm the market performance of the same, and thus it is necessary that companies have a sustainable financial performance.中文译文:会计准则的变化对会计信息质量的影响:以墨西哥实体行业为例摘要本文的目的是研究会计准则的变化是否提高了墨西哥上市公司的财务信息的价值相关性。

与上市公司会计信息披露有关的外文文献及翻译

与上市公司会计信息披露有关的外文文献及翻译

与上市公司会计信息披露有关的外文文献及翻译Analysis of the Relationship between Listed Companies’ Earnings Quality and Internal Control Information Disclosure* Jianfei Leng, Lu LiSchool of Business, Hohai University, Nanjing, China1、IntroductionThe cases of financial fraud lead to incalculable losses in these years, which are related to firm’s weak system of internal control. Now, both domestic and foreign have issued a series of legal norms. For example, Sarbanes- Oxley (SOX) Act force listed Companies to disclose their internal control information, including internal control deficiencies and internal self-assessment report and external auditor’s audit opinion. We formulate two important files: “Shanghai Stock Exchange listed companies internal control guidelines”and “Shenzhen Stock Exchange listed companies internal control guidelines”. These files require companies to disclose internal control self-assessment report and comments of external auditor’s audit, which greatly improve company’s effectiveness of internal control and quality of financial information. Accounting earnings is the score and one of the most important elements in all of the accounting information, which mainly refers to the company’s ability of forecasting future net cash flow. Higher earnings quality is the key to the effective function of the market and the insurance of the company’s future cash flow. The better quality of company’s earnings inclined to disclose more internal control information and to get more outside investment. Therefore, earnings quality is one of the most important factorsto affect internal control information disclosure. In this article, with the analysis of multiple regressions, we examine the relationship of earnings quality and internal control disclosure of information in the sample of 1273 nonfinancial firms in shanghai and Shenzhen Stock Exchange in 2010.2. Prior Research on Internal Control Information DisclosureListed companies’ internal control information disclosure is mostly voluntary before 2002, but few companies are willing to do so. Since Sarbanes-Oxley (SOX) Act is enforced, many listed companies are forced to disclose their information of internal control, which providing more material and information to scholars who study listed companies’internal control. Researches on internal control information disclosure are mainly concentrated on the following four aspects:1) The current situation and solutions of internal control information disclosure.There are lots of researches on the current situation of internal control information disclosure,Mc. Mullen,Raghunandan and Rama [1] studied 4154 companies during 1989-1993, suggesting that only 26.5% companies are willing to disclose their internal control information, and that only 10.5% provide their internal control report among those companies with deficiencies on their financial reports. It shows that the proportion of companies voluntarily disclosing their internal control information is little, and that the companies with deficient financial report are more unwilling to provide the internal control self-assessment report. Hermanson [2] also did corresponding empirical research on listed company’s internal control information disclosure and got the same conclusion. Minghui Li[3] and Dongmei Qin [4] made related researches on the current situation of internal control information disclosure. They believed that current listed companies’ enthusiasm of disclosing internal control information is not strong, and much internal control information was not substantial but formal. Minghui Li [3] also drawn on the experiences of the United States in internal control information disclosure, and provided a series of suggestions and measures of improving internal control information disclosure. Hua Li, Lina Chen [5], Xiaofeng Dai and Jun Pan [6] analyzed the current situation of internal control information disclosure with internal control theories, and pointed out the problems and put forward the corresponding solution. Xinhua Dai and Qiang Zhang [7] mainly did the research on listed banks’internal control information disclosure, finding that our listed banks’system of internal control information disclosure is not standardized and sufficient. They interpreted the corresponding requirements of the US internal control information disclosure set by “Sarbanes-Oxley Act”, suggesting China to promote the improvement of listed banks’ internal control information step by step. According to relevant provisions of internal control information disclosure required by “Shanghai Stock Exchange Guidelines”and “The Notice on Listed Companies’Annual Report in 2006”, Youhong Yang and Wei Wang [8] analyzed the internal control information disclosure of listed companies on Shanghai Stock Exchange in 2006 with descriptive statistics, and found many problems.2) Impact factors of internal control information disclosure.Bronson, carcello, Raghunandan and Doyle, Ge, McVay suggested that there is a correlation between corporate identityand internal control information dis-closure. Company size, the proportion of institutional investor holding, the number of audit committee and the speed of earnings growth have impact on internal control information disclosure. Many other experts did empirical study on such question. Ge and McVay used a survey method to analyze the sample, discovering that the disclosure of material defects is related to the complexity of the company but there is no direct correlation with company size and profitability. Jifu Cai made a relevant empirical study of A-share listed companies to find impact factors of listed companies’ internal control information disclosure. The results showed that the companies with a better operating performance and higher reliability of financial report are more inclined to disclose its internal control information, and vice versa. This indicates that the company’s operating performance and reliability of financial report affect the listed companies’internal control information disclosure. Adrew J. Lcone selected listed companies who disclosed material defects of their internal control information in their annual reports as samples to study the impact factors of internal control information disclosure. The results show that the complexity of corporate structures, the changes in company structure and the inputs to internal control are all the impact factors of internal control information disclosure. Shaoqing Song and Yao Zhang studied A-share listed companies on Shanghai and Shenzhen Stock Exchange from 2006 to 2007, finding that there is a correlation between corporate governance characteristics and internal control information disclosure. Audit committee, annual statistics, company size and the place of listing have a significant impact on internal control information disclosure. Bin Wang andHuanhuan Liang [15] studied 1884 listed companies on Shenzhen Stock Exchange between 2001 and 2004. They made use of their rating reports of information disclosure quality to examine the inherent relationship between listed companies’corporate governance characteristics, characteristics of operating condition and information disclosure quality, finding that corporate governance characteristics and characteristics of operating condition have a certain impact on internal control information disclosure.3) The cost of internal control information disclosure.The studies on the cost of internal control information disclosure are not very much. J. Efrim, Boritz, Ping Zhang thought that the costs of disclosing internal control information is enormous, and the management did not believe that the benefits of internal control information disclosure would surpass the corresponding costs. Maria analyzed the sample which discloses their internal control information in accordance with SEC requirements, primarily study the relationship between the costs of disclosing internal control information and the effectiveness of the internal control system. It is found that the cost of disclosing deficiencies of internal control information is far more than that of defect-free.4) Correlation between internal control and earnings quality.There are many researches on the correlation between internal control and earnings quality. Doyle [11] studied the relationship between internal control and earnings quality, and found that internal control is a motivation of earnings quality. The studies of Chan [18] and Goh and Li [19] are similar. Chan [18] discovered that earnings management of those who disclose thematerial defects of internal control has a higher degree but the return on investment is very low. Goh and Li’s [19] also found that company’s earnings stability can be increased after improving the defects of internal control. Lobo and Zhou [20] made a comparison on companies’discretionary accruals between before implementing “Sarbanes-Oxley Act” and after implementing it, finding that companies’ discretionary accruals decreased a lot after the implementation of “Sarbanes-Oxley Act”. Doyle, Ge and Mcvay [10] divided the internal control defects into two aspects: corporate level and account level, finding that internal control defects on corporate level is influential to earnings quality, but there is no correlation between internal control defects on account level and earnings quality. Guoqing Zhang [21] selected nonfinancial A-share listed companies in 2007 as a research object to study the internal control quality on earnings quality. The results have shown that there is no close link between high quality internal control and earnings quality, but company’s characteristics and corporate governance factors may affect internal control quality and earnings quality systematically. Chunsheng Fang et al. [22] used questionnaire survey to examine the relationship between internal control system and financial reporting quality, finding that financial reporting quality improved after implementation of internal control system. Jun Zhang and Junzhi Wang [23] selected listed companies on Shanghai Stock Exchange in 2007 as sample, and used adjusted Jones model to calculate discretionary accruals and found that discretionary accruals significantly reduced after the review of internal control. Shengwen Xie and Wenhai Lai [24] selected A-share listed companies on Shanghai Stock Exchange in 2007 and 2008 as samples. They analyzed therelationship between internal control deficiencies and earnings quality by using a paired study, and found that listed companies’internal control information disclosure had an effect on earnings quality.Based on the above studies, we can see that internal control gets more attention after the promulgation of “Sarbanes-Oxley Act”. Current researches centralize on the defects of existing laws and regulations, the current situations of listed companies’internal control information disclosure, the relationship between listed companies’internal control information disclosure and their operating conditions, financial report quality and earnings quality. Among the current studies, most have focused on descriptive statistics and the relationship be-tween internal control quality and earnings quality, while there is no study use earnings quality as explanatory variable to reflect its effect on internal control information disclosure. Therefore, this article uses earnings quality as main explanatory variable and disclosure of internal control as the dependent variable to do empirical study, which compensate for the lack of current research to some extent.3. Method3.1. HypothesisHypothesis: the better the quality of earnings is, the higher the level of internal control information disclosure will be.According to agency theory and signaling theory, corporate trustee has obligation to report relevant information to the corporate capital owners, which give help to the operation of business. In the process of reporting, corresponding information is to pass the corporate relevant signal to the capital market. The signal can make the operator affect the flow of resources incapital market in a certain extent to improve the enterprise’s interests. There is the mutually reinforcing relationship between internal control information disclosure and the quality of earnings. A company that can fully disclose its information of internal control means that its managers have a good description of ethics. Meanwhile, a company that can take the initiative to show its internal control information in detail indicates that its company has a higher self-confidence, which will attract more capital market resources, increase its cash flow, enhance the quality of earnings, and improve management capabilities. Conversely, companies with good earnings quality will choose to voluntarily disclose their information of internal control in detail. They can distinguish themselves to the companies with inferior earnings quality and get more favor from investors.上市公司盈余质量与内部控制信息披露关系研究冷建飞,李璐(河海大学商学院,南京)1、前言近年来金融诈骗案件的发生带来了不可估量的损失,这与公司内部控制系统弱是有关系的。

会计信息质量外文文献及翻译

会计信息质量外文文献及翻译

LNTU …Acc附录A会计信息质量在投资中的决策作用对私人信息和监测的影响安妮比蒂,美国俄亥俄州立大学瓦特史考特廖,多伦多大学约瑟夫韦伯,美国麻省理工学院1简介管理者与外部资本的供应商信息是不对称的在这种情况下企业是如何影响金融资本的投资的呢?越来越多的证据表明,会计质量越好,越可以减少信息的不对称和对融资成本的约束。

与此相一致的可能性是,减少了具有更高敏感性的会计质量的公司的投资对内部产生的现金流量。

威尔第和希拉里发现,对企业投资和与投资相关的会计质量容易不足,是容易引发过度投资的原因。

当投资效率低下时,会计的质量重要性可以减轻外部资本的影响,供应商有可能获得私人信息或可直接监测管理人员。

通过访问个人信息与控制管理行为,外部资本的供应商可以直接影响企业的投资,降低了会计质量的重要性。

符合这个想法的还有比德尔和希拉里的比较会计对不同国家的投资质量效益的影响。

他们发现,会计品质的影响在于美国投资效益,而不是在口本。

他们认为,一个可能的解释是不同的是债务和股权的美国版本的资本结构混合了SUS的日本企业。

我们研究如何通过会计质量灵敏度的重要性来延长不同资金来源对企业的投资现金流量的不同影响。

直接测试如何影响不同的融资来源会计,通过最近获得了债务融资的公司来投资敏感性现金流的质量的效果,债务融资的比较说明了对那些不能够通过他们的能力获得融资的没有影响。

为了缓解这一问题,我们限制我们的样本公司有所有最近获得的债务融资和利用访问的差异信息和监测通过公共私人债务获得连续贷款的建议。

我们承认,投资内部现金流敏感性叮能较低获得债务融资的可能性。

然而,这种町能性偏见拒绝了我们的假设。

具体来说,我们确定的数据样本证券公司有1163个采样公司(议会),通过发行资本公共债务或银团债务。

我们限制我们的样本公司最近获得的债务融资持有该公司不断融资与借款。

然而,在样本最近获得的债务融资的公司,也有可能是信号,在资本提供进入私人信息差异和约束他们放在管理中的行为。

会计学毕业论文中英文资料外文翻译文献

会计学毕业论文中英文资料外文翻译文献

会计学中英文资料外文翻译外文原文Title:Future of SME finance(Background – the environment for SME finance has changedFuture economic recovery will depend on the possibility of Crafts, Trades and SMEs to exploit their potential for growth and employment creation.SMEs make a major contribution to growth and employment in the EU and are at the heart of the Lisbon Strategy, whose main objective is to turn Europe into the most competitive and dynamic knowledge-based economy in the world. However, the ability of SMEs to grow depends highly on their potential to invest in restructuring, innovation and qualification. All of these investments need capital and therefore access to finance.Against this background the consistently repeated complaint of SMEs about their problems regarding access to finance is a highly relevant constraint that endangers the economic recovery of Europe.Changes in the finance sector influence the behavior of credit institutes towards Crafts, Trades and SMEs. Recent and ongoing developments in the banking sector add to the concerns of SMEs and will further endanger their access to finance. The main changes in the banking sector which influence SME finance are:•Globalization and internationalization have increased the competition and the profit orientation in the sector;•worsening of the economic situations in some institutes (burst of the ITC bubble, insolvencies) strengthen the focus on profitability further;•Mergers and restructuring created larger structures and many local branches, which had direct and personalized contacts with small enterprises, were closed;•up-coming implementation of new capital adequacy rules (Basel II) will also change SME business of the credit sector and will increase its administrative costs;•Stricter interpretation of State-Aide Rules by the European Commission eliminates the support of banks by public guarantees; many of the effected banks arevery active in SME finance.All these changes result in a higher sensitivity for risks and profits in the finance sector.The changes in the finance sector affect the accessibility of SMEs to finance.Higher risk awareness in the credit sector, a stronger focus on profitability and the ongoing restructuring in the finance sector change the framework for SME finance and influence the accessibility of SMEs to finance. The most important changes are: •In order to make the higher risk awareness operational, the credit sector introduces new rating systems and instruments for credit scoring;•Risk assessment of SMEs by banks will force the enterprises to present more and better quality information on their businesses;•Banks will try to pass through their additional costs for implementing and running the new capital regulations (Basel II) to their business clients;•due to the increase of competition on interest rates, the bank sector demands more and higher fees for its services (administration of accounts, payments systems, etc.), which are not only additional costs for SMEs but also limit their liquidity;•Small enterprises will lose their personal relationship with decision-makers in local branches –the credit application process will become more formal and anonymous and will probably lose longer;•the credit sector will lose more and more its “public function” to provide access to finance for a wide range of economic actors, which it has in a number of countries, in order to support and facilitate economic growth; the profitability of lending becomes the main focus of private credit institutions.All of these developments will make access to finance for SMEs even more difficult and / or will increase the cost of external finance. Business start-ups and SMEs, which want to enter new markets, may especially suffer from shortages regarding finance. A European Code of Conduct between Banks and SMEs would have allowed at least more transparency in the relations between Banks and SMEs and UEAPME regrets that the bank sector was not able to agree on such a commitment.Towards an encompassing policy approach to improve the access of Crafts, Trades and SMEs to financeAll analyses show that credits and loans will stay the main source of finance forthe SME sector in Europe. Access to finance was always a main concern for SMEs, but the recent developments in the finance sector worsen the situation even more. Shortage of finance is already a relevant factor, which hinders economic recovery in Europe. Many SMEs are not able to finance their needs for investment.Therefore, UEAPME expects the new European Commission and the new European Parliament to strengthen their efforts to improve the framework conditions for SME finance. Europe’s Crafts, Trades and SMEs ask for an encompassing policy approach, which includes not only the conditions for SMEs’ access to lending, but will also strengthen their capacity for internal finance and their access to external risk capital.From UEAPME’s point of view such an encompassing approach should be based on three guiding principles:•Risk-sharing between private investors, financial institutes, SMEs and public sector;•Increase of transparency of SMEs towards their external investors and lenders;•improving the regulatory environment for SME finance.Based on these principles and against the background of the changing environment for SME finance, UEAPME proposes policy measures in the following areas:1. New Capital Requirement Directive: SME friendly implementation of Basel IIDue to intensive lobbying activities, UEAPME, together with other Business Associations in Europe, has achieved some improvements in favour of SMEs regarding the new Basel Agreement on regulatory capital (Basel II). The final agreement from the Basel Committee contains a much more realistic approach toward the real risk situation of SME lending for the finance market and will allow the necessary room for adaptations, which respect the different regional traditions and institutional structures.However, the new regulatory system will influence the relations between Banks and SMEs and it will depend very much on the way it will be implemented into European law, whether Basel II becomes burdensome for SMEs and if it will reduce access to finance for them.The new Capital Accord form the Basel Committee gives the financial marketauthorities and herewith the European Institutions, a lot of flexibility. In about 70 areas they have room to adapt the Accord to their specific needs when implementing it into EU law. Some of them will have important effects on the costs and the accessibility of finance for SMEs.UEAPME expects therefore from the new European Commission and the new European Parliament:•The implementation of the new Capital Requirement Directive will be costly for the Finance Sector (up to 30 Billion Euro till 2006) and its clients will have to pay for it. Therefore, the implementation – especially for smaller banks, which are often very active in SME finance –has to be carried out with as little administrative burdensome as possible (reporting obligations, statistics, etc.).•The European Regulators must recognize traditional instruments for collaterals (guarantees, etc.) as far as possible.•The European Commission and later the Member States should take over the recommendations from the European Parliament with regard to granularity, access to retail portfolio, maturity, partial use, adaptation of thresholds, etc., which will ease the burden on SME finance.2. SMEs need transparent rating proceduresDue to higher risk awareness of the finance sector and the needs of Basel II, many SMEs will be confronted for the first time with internal rating procedures or credit scoring systems by their banks. The bank will require more and better quality information from their clients and will assess them in a new way. Both up-coming developments are already causing increasing uncertainty amongst SMEs.In order to reduce this uncertainty and to allow SMEs to understand the principles of the new risk assessment, UEAPME demands transparent rating procedures –rating procedures may not become a “Black Box” for SMEs:•The bank should communicate the relevant criteria affecting the rating of SMEs.•The bank should inform SMEs about its assessment in order to allow SMEs to improve.The negotiations on a European Code of Conduct between Banks and SMEs , which would have included a self-commitment for transparent rating procedures by Banks, failed. Therefore, UEAPME expects from the new European Commission andthe new European Parliament support for:•binding rules in the framework of the new Capital Adequacy Directive, which ensure the transparency of rating procedures and credit scoring systems for SMEs;•Elaboration of national Codes of Conduct in order to improve the relations between Banks and SMEs and to support the adaptation of SMEs to the new financial environment.3. SMEs need an extension of credit guarantee systems with a special focus on Micro-LendingBusiness start-ups, the transfer of businesses and innovative fast growth SMEs also depended in the past very often on public support to get access to finance. Increasing risk awareness by banks and the stricter interpretation of State Aid Rules will further increase the need for public support.Already now, there are credit guarantee schemes in many countries on the limit of their capacity and too many investment projects cannot be realized by SMEs.Experiences show that Public money, spent for supporting credit guarantees systems, is a very efficient instrument and has a much higher multiplying effect than other instruments. One Euro form the European Investment Funds can stimulate 30 Euro investments in SMEs (for venture capital funds the relation is only 1:2).Therefore, UEAPME expects the new European Commission and the new European Parliament to support:•The extension of funds for national credit guarantees schemes in the framework of the new Multi-Annual Programmed for Enterprises;•The development of new instruments for securitizations of SME portfolios;•The recognition of existing and well functioning credit guarantees schemes as collateral;•More flexibility within the European Instruments, because of national differences in the situation of SME finance;•The development of credit guarantees schemes in the new Member States;•The development of an SBIC-like scheme in the Member States to close the equity gap (0.2 – 2.5 Mio Euro, according to the expert meeting on PACE on April 27 in Luxemburg).•the development of a financial support scheme to encourage the internalizations of SMEs (currently there is no scheme available at EU level:termination of JOP, fading out of JEV).4. SMEs need company and income taxation systems, which strengthen their capacity for self-financingMany EU Member States have company and income taxation systems with negative incentives to build-up capital within the company by re-investing their profits. This is especially true for companies, which have to pay income taxes. Already in the past tax-regimes was one of the reasons for the higher dependence of Europe’s SMEs on bank lending. In future, the result of rating will also depend on the amount of capital in the company; the high dependence on lending will influence the access to lending. This is a vicious cycle, which has to be broken.Even though company and income taxation falls under the competence of Member States, UEAPME asks the new European Commission and the new European Parliament to publicly support tax-reforms, which will strengthen the capacity of Crafts, Trades and SME for self-financing. Thereby, a special focus on non-corporate companies is needed.5. Risk Capital – equity financingExternal equity financing does not have a real tradition in the SME sector. On the one hand, small enterprises and family business in general have traditionally not been very open towards external equity financing and are not used to informing transparently about their business.On the other hand, many investors of venture capital and similar forms of equity finance are very reluctant regarding investing their funds in smaller companies, which is more costly than investing bigger amounts in larger companies. Furthermore it is much more difficult to set out of such investments in smaller companies.Even though equity financing will never become the main source of financing for SMEs, it is an important instrument for highly innovative start-ups and fast growing companies and it has therefore to be further developed. UEAPME sees three pillars for such an approach where policy support is needed:Availability of venture capital•The Member States should review their taxation systems in order to create incentives to invest private money in all forms of venture capital.•Guarantee instruments for equity financing should be further developed.Improve the conditions for investing venture capital into SMEs•The development of secondary markets for venture capital investments inSMEs should be supported.•Accounting Standards for SMEs should be revised in order to ease transparent exchange of information between investor and owner-manager.Owner-managers must become more aware about the need for transparency towards investors•SME owners will have to realise that in future access to external finance (venture capital or lending) will depend much more on a transparent and open exchange of information about the situation and the perspectives of their companies.•In order to fulfil the new needs for transparency, SMEs will have to use new information instruments (business plans, financial reporting, etc.) and new management instruments (risk-management, financial management, etc.).外文资料翻译题目:未来的中小企业融资背景:中小企业融资已经改变未来的经济复苏将取决于能否工艺品,贸易和中小企业利用其潜在的增长和创造就业。

会计信息披露外文文献翻译

会计信息披露外文文献翻译

会计信息披露外文文献翻译文献出处:Ebimobowei A. A Study of Social Accounting Disclosures in the Annual Reports of Nigerian Companies [J]. Asian Journal of Business Management, 2011, 3(3): 145-151.原文A Study of Social Accounting Disclosures in theAnnual Reports of Nigerian CompaniesAppah EbimoboweiAbstract: Social accounting is concerned with the development of measurement system to monitor social performance. It is rational assessment of and disclosure on some meaningful domain of companies’ activities that have social impact. Thi s study examines the practice of social accounting disclosure in Nigerian companies. Forty companies from eight sectors quoted in the Nigerian Stock Exchange were randomly sampled. Data were collected from the annual reports of the companies’ for the perio d 2005 to 2007 and the level of disclosure is measured using content analysis and descriptive analysis. The paper found that 82.5% of the companies sampled present social accounting information in their annual reports. The results show that Nigerian companies prefer to disclose social accounting information in the Directors Report, Chairman’s Statement and Notes to the Accounts in the form of short qualitative information. Human resources, community involvement and environment were identified as the most popular themes. Hence, the paper recommends among others that companies should take social accounting as a moral duty; legislation for all companies to disclose social accounting information in Nigeria; social indicators to be developed at thenational level in the area of employment opportunities, environmental control, energy conservation, health care etc and professional accounting bodies in the country should collaborate to expand research in social accounting.Key words: Annual reports, social accounting, social disclosure, NigeriaINTRODUCTIONThe increasing need for every organization to disclose in their annual reports the various activities that affect the society is becoming a very fundamental issue all over the world mostly in developed economies, but this is not the case in developing countries like Nigeria. This is because organizations are particularly more interested in the profit maximization objective to the detriment of the society. According to Iyoha (2010), in developing countries, the concern is about how efficient organizations are in terms of how much profits are made and how much dividends are paid. No serious thoughts are given to social issues in the annual reports of organizations such as environmental protection, energy savings, fair business practice, and community involvements etc. Asechemie (1996) stress that the absence of financial data relating to actions and arrangements for social concern in Nigeria is not in accord with the trend in the USA, Europe and Canada where companies are required to report on the effect of compliance with laws governing corporate social conduct on capital expenditures, earnings and competitive position.The objective of this paper is to examine the social accounting disclosures in the annual reports of Nigerian companies. Therefore, the content of annual reports must provide information to users relating to social factors. AsMathews (2002) suggested in his study, documenting and analyzing what is disclosed in the area of social accounting should be one of the feature of corporate social reporting. Hence, this study attempts to answer two main questions: (i) what are the most popular types of social accounting and how is social accounting disclosed in the annual reports of companies in Nigeria and (ii) where is the location of presentation of social accounting in the annual reports of companies in Nigeria. To achieve this objective, the paper is divided into five sections. The next section discusses the theoretical and empirical literatures adopted for the study. Section three examines the methodology of the study; section four examines the findings and discussions while the last section deals with the conclusion and recommendations.Theories on corporate social accounting disclosure behavior:Gray et al. (1995) in Orij (2007) provided a much cited categorization of social accountingdisclosure studies. They talked about three broad classifications of decision usefulness studies, economic theory and social and political theory. The decision usefulness generally relates to the usefulness of accounting information, which is social accounting in this case. These studies are of two types, ranking of information on its perceived decision-usefulness in the financial community and investigations of information on effects on share prices. The economic theory studies are a periphery of agency theory and Positive Accounting Theory (PAT) research. The social and political theory focuses on legitimacy theory (LEGT) and stakeholder theory (STAKT). LEGT and STAKT are theories developed out of political economies. They are overlapping perspectives in a political-economic framework. Intheoretical term, Guthrie and Parker (1990) also analyse their empirical evidence in relation to a socio-political economy theory of social disclosure and suggest that:a political economy theory of social disclosure is both viable and may contribute toward our understanding of observed developments in national reporting practices. Corporate social disclosures have appeared to reflect public social priorities, respond to government pressures, accommodate environmental pressures and sectional interests, and protect corporate prerogatives and projected corporate image.Prior empirical studies: A number of studies have been published on the subject of social accounting disclosure. A number of these rely on content analysis of annual reports. There are several different methods to the analysis of narratives in annual reports. Bettie et al. (2004) distinguish two categories: subjective (analyst ratings) and semi-objective (disclosure index studies, content analysis, readability studies and linguistic analysis). Content analysis has been selected for this study because it has been widely used in the accounting research, particularly in social accounting disclosure studies. Since this is the method of analysis in the present study, we limit our review to these studies. Table 1 summary the methodology, sample and main results of these studies.RESULTS AND DISCUSSIONLevel of social accounting disclosure: Table 2 shows that 33 companies (82.5%) from various industry groupings made social accounting disclosures at least for oneyear in their annual reports. Analysis based on industry, showed that chemical and paints, construction and petroleum marketing had 100 percent disclosure of social accountinginformation. The lowest level of social accounting information was 66.7% contributed by Breweries and conglomerate while companies in the building materials (75%), food/beverages and tobacco (80%), and healthcare (83.3%) level of disclosure from year 2005 to 2007. Therefore, it can be deduced that there is a growing concern for companies reporting social performance in their financial statements.Form of social accounting disclosure: Table 3 shows that in 2005 75% of the companies disclose social accounting information using narrative/pictures and 25% disclose with monetary formats. The year 2006 81% used narrative and 19% used monetary format while in 2007 84% used narrative and 16% monetary format. However, there were also companies that used both narrative and monetary formats of disclosure. Many companies were also found to have used the monetary format to disclose human resource information and environmental contribution primarily related to retirement benefit, training and development and some community based projects such as adopting school, scholarships and donations.Location of social accounting disclosure: Table 4 shows that 4(12.12%) of the sampled companies (Appendix) disclose social accounting information in the chairman’s statement; 17(51.52%) disclose social accounting information in the directors report; 2(6.06%) in the statement of accounting policy; 10(30.30%) in the notes to the accounts. The paper discovers that Directors report is the most popular location where social accounting information is disclosed by companies in Nigeria and also the “notes to the accounts”. This result is also consistent with Mamman (2004) study that Directors report is the most preferred location of social accounting information.Quantification of amount of social accounting disclosure:This study used only number of disclosure as the approach of capturing data through content analysis. Almost all companies disclosed social accounting information in short qualitative discussion and some have extended qualitative discussion where they have sections to disclose the social accounting information especially on human resources andcommunity based projects.Trend of social accounting disclosure: Table 5 shows the trend of social accounting disclosures in Nigeria. Twelve (12) companies representing (36.36%) reveals that human resources is the trend of social accounting disclosure in the annual report; two companies representing (6.06%) says the trend is fair business practice; nine (9) companies representing (27.27%) suggests community development; three (3) companies representing (9.09%) reveals that the trend of social accounting is energy; five (5) companies representing (15.16%) in their annual reports disclosed that the trend is on the environment; and two (2) companies representing (6.06%) disclosed in their annual reports that the trends is on the organization’s products. The analysis therefore reveals that disclosure of social and environmental activities is specifically on the discretion of the companies.CONCLUSION AND RECOMMENDATIONThe study examined social accounting disclosure for a three-year period from 2005 to 2007. The type of social accounting disclosure, form and location were identified in the annual reports of 40 companies. This covers eight sectors of the Nigerian Stock Exchange. The study found that 82.5% of Nigerian Companies disclose one type or the other of social accountinginformation in their annual reports. These disclosures were voluntary in nature and largely qualitative; contrary to the developed and some developing countries. The most favoured places of disclosure are in the Directors Report, Chairman’s Statement and Notes to the account. The most popular theme that most companies disclose is human resources followed by community involvement and environment. Analysis done by industry found that the petroleum marketing, food/beverages and tobacco, chemicals and paints sectors provides a higher percentage of social accounting disclosure in Nigeria. Therefore, on the basis of the conclusion above, the following suggestions are provided by the researcher to improve the social accounting practice in Nigeria:﹒Companies should take social accounting disclosure as their moral duty; mere legislation would not solve the problem.﹒The government should provide some incentives like differentials in tax treatment, subsidies, rebates etc. so that companies can take social programmes.﹒Researchers should provide the basis and means of social accounting quantification as far as possible.﹒The government should put in place suitable legislation for all companies to compel them to make adequate disclosure of their activities to the society.﹒Professional institutes in the country like the Institute of Chartered Accountants of Nigeria and the Association of National Accountants of Nigeria should work together for developing social accounting and reporting techniques.﹒Social indicators should be developed at the national level in the areas of employment opportunities, environmental control, energy conservation, health education etc.译文会计信息披露,尼日利亚公司年度报告的实证研究阿帕·艾比莫泊威摘要:会计信息披露关系到对社会绩效监督的评估系统的发展。

会计英文文献及翻译

会计英文文献及翻译

IMPLEMENTING ENVIRONMENTAL COSTACCOUNTING IN SMALL AND MEDIUM-SIZEDCOMPANIES1.ENVIRONMENTAL COST ACCOUNTING IN SMESSince its inception some 30 years ago, Environmental Cost Accounting (ECA) has reached a stage of development where individual ECA systems are separated from the core accounting system based an assessment of environmental costs with (see Fichter et al., 1997, Letmathe and Wagner , 2002).As environmental costs are commonly assessed as overhead costs, neither the older concepts of full costs accounting nor the relatively recent one of direct costing appear to represent an appropriate basis for the implementation of ECA. Similar to developments in conventional accounting, the theoretical and conceptual sphere of ECA has focused on process-based accounting since the 1990s (see Hallay and Pfriem, 1992, Fischer and Blasius, 1995, BMU/UBA, 1996, Heller et al., 1995, Letmathe, 1998, Spengler and H.hre, 1998).Taking available concepts of ECA into consideration, process-based concepts seem the best option regarding the establishment of ECA (see Heupel and Wendisch , 2002). These concepts, however, have to be continuously revised to ensure that they work well when applied in small and medium-sized companies.Based on the framework for Environmental Management Accounting presented in Burritt et al. (2002), our concept of ECA focuses on two main groups of environmentally related impacts. These are environmentally induced financial effects and company-related effects on environmental systems (see Burritt and Schaltegger, 2000, p.58). Each of these impacts relate to specific categories of financial and environmental information. The environmentally induced financial effects are represented by monetary environmental information and the effects on environmental systems are represented by physical environmental information. Conventional accounting deals with both – monetary as well as physical units – but does not focus on environmental impact as such. To arrive at a practical solution to the implementation of E CA in a company’s existing accounting system, and to comply with the problem of distinguishing between monetary and physical aspects, an integrated concept is required. As physical information is often the basis for the monetary information (e.g. kilograms of a raw material are the basis for the monetary valuation of raw material consumption), the integration of this information into the accounting system database is essential. From there, the generation of physical environmental and monetary (environmental) information would in many cases be feasible. For many companies, the priority would be monetary (environmental) information for use in for instance decisions regarding resource consumptions and investments. The use of ECA in small andmedium-sized enterprises (SME) is still relatively rare, so practical examples available in the literature are few and far between. One problem is that the definitions of SMEs vary between countries (see Kosmider, 1993 and Reinemann, 1999). In our work the criteria shown in Table 1 are used to describe small and medium-sized enterprises.Table 1. Criteria of small and medium-sized enterprisesNumber of employees TurnoverUp to 500employees Turnover up to EUR 50mManagement Organization- Owner-cum-entrepreneur -Divisional organization is rare- Varies from a patriarchal management -Short flow of information style in traditional companies and teamwork -Strong personal commitmentin start-up companies -Instruction and controlling with- Top-down planning in old companies direct personal contact- Delegation is rare- Low level of formality- High flexibilityFinance Personnel- family company -easy to survey number of employees- limited possibilities of financing -wide expertise-high satisfaction of employeesSupply chain Innovation-closely involved in local -high potential of innovationeconomic cycles in special fields- intense relationship with customersand suppliersKeeping these characteristics in mind, the chosen ECA approach should be easy to apply, should facilitate the handling of complex structures and at the same time be suited to the special needs of SMEs.Despite their size SMEs are increasingly implementing Enterprise Resource Planning (ERP) systems like SAP R/3, Oracle and Peoplesoft. ERP systems support business processes across organizational, temporal and geographical boundaries using one integrated database. The primary use of ERP systems is for planning and controlling production and administration processes of an enterprise. In SMEs however, they are often individually designed and thus not standardized making the integration of for instance software that supports ECA implementation problematic. Examples could be tools like the “eco-efficiency” approach of IMU (2003) or Umberto (2003) because these solutions work with the database of more comprehensive software solutions like SAP, Oracle, Navision or others. Umberto software for example (see Umberto, 2003) would require large investments and great background knowledge of ECA – which is not available in most SMEs.The ECA approach suggested in this chapter is based on an integrative solution –meaning that an individually developed database is used, and the ECA solution adopted draws on the existing cost accounting procedures in the company. In contrast to other ECA approaches, the aim was to create an accounting system that enables the companies to individually obtain the relevant cost information. The aim of the research was thus to find out what cost information is relevant for the company’s decision on environmental issues and how to obtain it.2.METHOD FOR IMPLEMENTING ECASetting up an ECA system requires a systematic procedure. The project thus developed a method for implementing ECA in the companies that participated in the project; this is shown in Figure 1. During the implementation of the project it proved convenient to form a core team assigned with corresponding tasks drawing on employees in various departments. Such a team should consist of one or two persons from the production department as well as two from accounting and corporate environmental issues, if available. Depending on the stage of the project and kind of inquiry being considered, additional corporate members may be added to the project team to respond to issues such as IT, logistics, warehousing etc.Phase 1: Production Process VisualizationAt the beginning, the project team must be briefed thoroughly on the current corporate situation and on the accounting situation. To this end, the existing corporate accounting structure and the related corporate information transfer should be analyzed thoroughly. Following the concept of an input/output analysis, how materials find their ways into and out of the company is assessed. The next step is to present the flow of material and goods discovered and assessed in a flow model. To ensure the completeness and integrity of such a systematic analysis, any input and output is to be taken into consideration. Only a detailed analysis of material and energy flows from the point they enter the company until they leave it as products, waste, waste water or emissions enables the company to detect cost-saving potentials that at later stages of the project may involve more efficient material use, advanced process reliability and overview, improved capacity loads, reduced waste disposal costs, better transparency of costs and more reliable assessment of legal issues. As a first approach, simplified corporate flow models, standardizedstand-alone models for supplier(s), warehouse and isolated production segments were established and only combined after completion. With such standard elements and prototypes defined, a company can readily develop an integrated flow model with production process(es), production lines or a production process as a whole. From the view of later adoption of the existing corporate accounting to ECA, such visualization helps detect, determine, assess and then separate primary from secondary processes. Phase 2: Modification of AccountingIn addition to the visualization of material and energy flows, modeling principal and peripheral corporate processes helps prevent problems involving too high shares of overhead costs on the net product result. The flow model allows processes to be determined directly or at least partially identified as cost drivers. This allows identifying and separating repetitive processing activity with comparably few options from those with more likely ones for potential improvement.By focusing on principal issues of corporate cost priorities and on those costs that have been assessed and assigned to their causes least appropriately so far, corporate procedures such as preparing bids, setting up production machinery, ordering (raw) material and related process parameters such as order positions, setting up cycles of machinery, and order items can be defined accurately. Putting several partial processes with their isolated costs into context allows principal processes to emerge; these form the basis of process-oriented accounting. Ultimately, the cost drivers of the processes assessed are the actual reference points for assigning and accounting overhead costs. The percentage surcharges on costs such as labor costs are replaced by process parameters measuring efficiency (see Foster and Gupta, 1990).Some corporate processes such as management, controlling and personnel remain inadequately assessed with cost drivers assigned to product-related cost accounting. Therefore, costs of the processes mentioned, irrelevant to the measure of production activity, have to be assessed and surcharged with a conventional percentage.At manufacturing companies participating in the project,computer-integrated manufacturing systems allow a more flexible and scope-oriented production (eco-monies of scope), whereas before only homogenous quantities (of products) could be produced under reasonable economic conditions (economies of scale). ECA inevitably prevents effects of allocation, complexity and digression and becomes a valuable controlling instrument where classical/conventional accounting arrangements systematically fail to facilitate proper decisions. Thus, individually adopted process-based accounting produces potentially valuable information for any kind of decision about internal processing or external sourcing (e.g. make-or-buy decisions).Phase 3: Harmonization of Corporate Data – Compiling and Acquisition On the way to a transparent and systematic information system, it is convenient to check core corporate information systems of procurement and logistics, production planning, and waste disposal with reference to their capability to provide the necessary precise figures for the determined material/energy flow model and for previously identified principal and peripheral processes. During the course of the project, a few modifications within existing information systems were, in most cases, sufficient to comply with these requirements; otherwise, a completely new softwaremodule would have had to be installed without prior analysis to satisfy the data requirements.Phase 4: Database conceptsWithin the concept of a transparent accounting system, process-based accounting can provide comprehensive and systematic information both on corporate material/ energy flows and so-called overhead costs. To deliver reliable figures over time, it is essential to integrate a permanent integration of the algorithms discussed above into the corporate information system(s). Such permanent integration and its practical use may be achieved by applying one of three software solutions (see Figure 2).For small companies with specific production processes, an integrated concept is best suited, i.e. conventional andenvironmental/process-oriented accounting merge together in one common system solution.For medium-sized companies, with already existing integrated production/ accounting platforms, an interface solution to such a system might be suitable. ECA, then, is set up as an independent software module outside the existing corporate ERP system and needs to be fed data continuously. By using identical conventions for inventory-data definitions within the ECA software, misinterpretation of data can be avoided.Phase 5: Training and CoachingFor the permanent use of ECA, continuous training of employees on all matters discussed remains essential. To achieve a long-term potential of improved efficiency, the users of ECA applications and systems must be able to continuously detect and integrate corporate process modifications and changes in order to integrate them into ECA and, later, to process them properly.。

会计信息失真外文文献翻译2014年译文3300字

会计信息失真外文文献翻译2014年译文3300字

文献出处:Beck T. The Study of Accounting Information Distortion in Small and Medium Enterprise [J]. Journal of Banking & Finance, 2014, 30(11): 30-43.(声明:本译文归百度文库所有,完整译文请到百度文库。

)原文The Study of Accounting Information DistortionIn Small and Medium EnterpriseAuthor: Beck T.AbstractSecurity market, in fact, is information market, and the timeliness, fairness and completeness of account information is the foundation of public confidence to the market. The falsehood of accounting information strongly influents whether security market can work well. With introducing Coherence Theory and Procedural Rationality, the article redefines fairness and falsehood of accounting information, then analysis the issue from perspective of Game Theory.As to the concept of fairness of accounting information, the article integrates Procedural Rationality with Coherence Theory. That is, the accounting information can be deemed true only if the procedure and institution of accounting rule-making are rational and the accounting information is produced and disclosed strictly according to the rules.From previous definition, the falsehood of accounting information can be defined as following two: if the procedure and institution of accounting rule-making are irrational, the accounting information is in falsehood even though it is produce according to rules and standards. Besides, if the rules and standards are of high quality, but not obeyed, the accounting information is also in falsehood.Keywords: Accounting Information, Game Theory, Procedural RationalityRationality is one of presumptions in economics, which means human beings always make decision which can maximum his or her interests. And the presumption restricts the areas, where the methods in economics can be used. Therefore, it is necessary to refine the study areas. The article is to study on the falsehood of accounting information induced by rule constitutors and executors who have incentive not to follow the procedure of rule-making and implementing when institution and procedure are irrational. According to categories of falsehood of accounting information, the article is foc used on player’s actions and strategies under irrational institution and procedure which lead to the institutional and intended falsehood. So the behavioral falsehood and falsehood led by humane-beings’ limited rationality are excluded.During the process of accounting rule-making, different game players have different claims for accounting information according to their own interests. They have their own payoff functions, and have different request for accounting standards. The parties will make the rules partial to themselves and advocate their own requests from their own position and interest. The ideal model for accounting rule making is cooperative game with Nash equilibrium of sub-game perfect-ness under dynamic and completely-informative environment. It is more costly for rational men to breaking the equilibrium than keeping under such circumstances. Then it becomes Pareto Perfection when nobody wants to break up. However, the ideal model is hard to attain. And conditions are needed to provide to get close to the ideal model. That is to say, a set of rational institution and procedure must be set up to guarantee all the decisions made by each player maximum the welfare of society. And the rationality of institution and procedure should be embodied by representation of rule-makers and independence of rule-making organization.The structure of corporate governess comes from the conflicts within stockholders and the ones between shareholder and management. Accounting information is the warranty for shareholder to split up profits, and thetrack record on management’s performance. In practice, it is common that management provides accounting information; controlling stockholders get more information at first place; and the potential investors decides their action by watching the movement of stock price and controlling shareholders. The features of the phenomenon are as follow: there is no perfect information between players, the game process is dynamic. Based on these features, the author builds up dynamic model with imperfect information, and makes the conclusion that minority only cares about the payoff of majority, the majority considers their own interest and the payoff of the management, the management needs to think of the payoff of the majority, the minority and their own. The factors influencing their actions are given. In reality, it is impossible for government regulatory department and the management to make a coalition. And the sequence of the game is not as clear as the one in the game between shareholders and management.Therefore, a static model with imperfect information is founded. Deducing from the model, government regulatory department can ensure the fairness of accounting information by enhancing efforts in supervising, raising the social benefits and rewards of effective efforts, increasing the punishment of disclosing false accounting information and so on.During the game between management and auditors, currently, the management provides information at first, and then auditor conducts auditing and present auditing statement. There is a clear sequence in the game. And a dynamic model with imperfect information is built up. We concludes that raising the punishment, enhancing the efforts in inspecting and other measures can be done to guarantee the quality of accounting information.By summing up theoretical analysis above, we can deal with the falsehood of accounting information in following ways: consummating the rulemaking procedures; nurturing mature market of controlling shareholders; construct all-round supervising system; enhancing functions of the board; and raising the independence and competence of auditors.The United States of Enron, WorldCom, Xerox and so on a series of accounting scandals, questions about accounting information distortion. The discussion of the rest of the world. The steady development of securities market, not only related to the current performance of listed companies, and investors more expectations about the future of the market development and the establishment of the relevant investment confidence. The key to ensure the stability of this information is the public company accounting information disclosed the question, namely disclosure information must ensure that the securities price timely, accurate and comprehensive to reflect the fundamentals of each listed company management and the risk of the securities market conditions. Only on this basis, the investors to make reasonable expectations about the future, and then make your own risk tolerance of investment options, buy securities for their own preference of the enterprise; Companies, in turn, from investors get the corresponding resource allocation, in this way, the financing costs and risk of the enterprise and the prospect of the business performance, to achieve the purpose of the securities market efficient allocation of resources. And on this basis, the regulatory agencies and governments to find problems in a timely manner, effectively protect the rights and interests of investors, and can prevent market system risks. So the stock market is, in fact, market information, accounting information disclosure is timely, accurate, comprehensive build public confidence in the securities market.Ensure the securities market information disclosure timely, accurate and comprehensive is a long-term and complicated system engineering, it is not includes only the securities regulator information disclosure regulation system is perfect, more depends on whether the corporate governance structure to improve the strengthening the supervision of the stakeholders, accountants and lawyers and other intermediaries can remain neutral and integrity to perform their duties, investment bank or brokerage, conscientious, and securities market regulation legislation whether complete, to ensure fair and effective exercise of judicial supervision, media and social supervision by public opinion effectively in time, the government and corporate relations is an embarrassment and a series of institutional arrangements.Famous economist professor Simon, Simon pointed out in his theory of "bounded rationality" due to the person's cognition is Limited, people grasp of the information is incomplete, inadequate understanding and application of information to the people, therefore, are Bounded Rationality (Bounded Rationality).On the basis of bounded Rationality, he make a clear distinction between the rational standard of Procedural and Rationality of new classical economics to Substantive standards, distinguish the Procedural Rationality (Procedural Rationality) and the rational (Rationality of outcome/product) which is also called the substantial Rationality (Substantive Rationality).If procedural rationality refers to the behavior is the result of the due consideration, then the behavior is procedural rationality.Therefore, the behavior of the program depends on its rational production process. Results rational is refers to the established conditions and, within the prescribed scope of when behavior is suitable for a given target it is the result of rational. Thus, emphasizes the procedural rationality of rational behavior mechanism, itself is not a behavior results, because the result is always the result of a certain behavior program, program so if behavior is rational, is properly considered, the result of the behavior is also acceptable; The reason, on the other hand, pay attention to behavior result should comply with the established goals, do not pay attention to produce this behavior results the behavior of the process. Classical economics refers to the rational, in fact, a kind of substantive rationality, is a completely rational, given the behavior hypothesis (complete information, unlimited computing power and zero information processing fees) and the behavior of the target (utility maximization), behavior would be natural to achieve its purpose. Simon thinks, under the environment of uncertainty, people could not accurately predict the future, thus unable to act according to the result of rational way, can only rely on adopting a rational procedures to reduce the degree of future uncertainty, therefore, and should take reason instead of the reason for studying the economics program.From the view of procedural rationality, emphasized the authenticity of accounting information is whether accounting information generation and disclosure process Rational, rather than the accounting information itself is in accordance withthe established goals, that is, if the disclosure of accounting information generation and is rational, the result of the accounting behavior, accounting information itself can be accepted, you can think of accounting information is true, on the other hand, argue that the accounting information is distorted, similar to follow under the theory of the concept of the accounting information authenticity. Under the rational process view, the focus of the authenticity of accounting information is transferred to the accounting behavior process, namely, the process of formation and disclosure of accounting information.译文中小企业会计信息失真研究作者:贝克摘要证券市场实际上是信息市场,会计信息披露是否及时、准确、全面是建立公众对证券市场的信心基础。

会计信息系统外文翻译及原文

会计信息系统外文翻译及原文

会计信息系统小型企业在美国的比重很大。

尽管大多数公司都是小型企业,但是美国的大多数研究主要是研究大型跨国公司。

在美国和其他州,从高科技到特许经营权,小型企业是重要的实体。

这些企业家负担不起雇大会计师事务所审计咨询建议,如给股东的金融股、或关闭他们的企业等建议的费用,但是他们需要准确的会计信息来生存。

这就是为什么他们依靠会计信息系统(AIS)进行日常的管理决策。

我们想要发现他们怎么选择一个系统,使我们感到惊奇的是,这并不全是成本的因素。

首先,我们将简要的解释一下整个研究,已经有人为小型企业做过AIS的研究,然后解释研究结果。

在1999年,James Thong提出,在企业选择会计信息系统时,业务规模是最有意义的标准。

虽然他的研究缺少决策变量,但是解释了为什么企业家使用会计信息系统,却没有提及小型企业正在使用的具体软件。

另一项研究,是1998年Falconer米切尔,加文·里德,朱丽亚史密斯进行的,连接中小企业使用的管理会计信息进行成功或失败的融资。

此外,他们指出,因为大量的小型企业的存在,这些中小企业是否继续是一个至关重要的商业环境。

这些文章回答了重要的研究问题,但研究还需要中小企业使用何种会计信息系统软件的具体数据,这就是我们调查的目的和要做的事。

C.J. Goldberg提出,小企业可以选择各种不同的会计信息系统软件满足各行各业的需求,但企业家通常没有时间去研究所有选择。

我们的研究提供了小型企业业主看重何种会计信息系统软件的原因。

毕竟,大型企业往往只有销售人员根据“企业家”指南,从不同的软件公司调查,然后给企业家建议买什么软件。

根据“企业家”指南选择的软件会提供给企业家尽可能一样多的有用信息,我们学习了许多小企业类型软件的使用和企业家如何使用它。

此外,我们要求调查什么因素使他们对软件感到满意。

这个实验测试了以下两种假设:假设一:满意的会计软件并不依赖品牌。

假设二:满意度与员工软件技能成正比,不取决于类型的业务(独资、合伙、公司)。

最新上市公司会计信息质量研究-外文翻译

最新上市公司会计信息质量研究-外文翻译

上市公司会计信息质量研究-外文翻译中国上市公司管理者的不良会计行为摘要管理者有意或无意的不良会计行为将导致上市公司会计信息质量差,从而在很大程度上干扰投资者,造成资本市场混乱,不利于反映绩效管理责任。

研究中国上市公司管理者的不良会计行为具有重要意义,即改善管理,优化社会资源的分配。

本文分别讨论了管理者无意和有意的不良会计行为的表现形式和原因。

它也提出了防止中国上市公司管理者的不良会计行为的建议,通过提高工作效率和上市公司会计信息质量,来维护利益相关者的利益,并为资本市场提供良好的环。

关键词:不良会计行为;管理者;上市公司;会计信息质量引言会计行为是指提供高度相关的会计信息的行为,即会计信息的生成、处理和传输的过程。

会计行为会对预算,绩效评估,成本控制和决策产生重大影响。

从微观角度看,会计行为包括会计机构,会计业务,内部会计控制。

在核算过程中,掌握经营决策和控制权的管理者是选择会计政策和重大会计问题的决策的重要参与者。

因此,上市公司会计信息质量在很大程度上取决于管理者的行为。

我们把企业中,管理者参与会计的行动和表现称为管理者会计行为。

管理者通常被称为与管理人才签订业务合同和真正拥有剩余控制权利的人力资本所有者。

管理者负责确定组织的目标,制订策略,实现既定目标,监测和解释外部环境条件,对影响整个组织的问题做出决定。

一般来讲,中国上市公司的管理人员包括总裁,副总裁,部门经理,财务总监,总工程师等。

会计行为的结果是产生会计信息,会计实务和会计信息有直接的因果关系。

标准的会计实务提供真实和完整的会计信息,满足各种需求。

不规范的会计行为,会产生虚假和不完整的会计信息,最终扰乱甚至误导那些会计信息的使用者。

这些违规行为,可能是由于两个方面的原因,一个是由于人的有限理性,造成会计目标的偏差或目标的丢失,称为非主观不良会计行为。

另一种是为了某些不良意图或目的,对会计信息的生成和披露造成负面影响,因此可称为有意的不良会计行为。

关于会计的英文文献原文(带中文翻译)

关于会计的英文文献原文(带中文翻译)

The Optimization Method of Financial Statements Based on Accounting Management TheoryABSTRACTThis paper develops an approach to enhance the reliability and usefulness of financial statements. International Financial Reporting Standards (IFRS) was fundamentally flawed by fair value accounting and asset-impairment accounting. According to legal theory and accounting theory, accounting data must have legal evidence as its source document. The conventional “mixed attribute” accounting system should be re placed by a “segregated” system with historical cost and fair value being kept strictly apart in financial statements. The proposed optimizing method will significantly enhance the reliability and usefulness of financial statements.I.. INTRODUCTIONBased on international-accounting-convergence approach, the Ministry of Finance issued the Enterprise Accounting Standards in 2006 taking the International Financial Reporting Standards (hereinafter referred to as “the International Standards”) for reference. The Enterprise Accounting Standards carries out fair value accounting successfully, and spreads the sense that accounting should reflect market value objectively. The objective of accounting reformation following-up is to establish the accounting theory and methodology which not only use international advanced theory for reference, but also accord with the needs of China's socialist market economy construction. On the basis of a thorough evaluation of the achievements and limitations of International Standards, this paper puts forward a stand that to deepen accounting reformation and enhance the stability of accounting regulations.II. OPTIMIZA TION OF FINANCIAL STATEMENTS SYSTEM: PARALLELING LISTING OF LEGAL FACTS AND FINANCIAL EXPECTA TIONAs an important management activity, accounting should make use of information systems based on classified statistics, and serve for both micro-economic management and macro-economic regulation at the same time. Optimization of financial statements system should try to take all aspects of the demands of the financial statements in both macro and micro level into account.Why do companies need to prepare financial statements? Whose demands should be considered while preparing financial statements? Those questions are basic issues we should consider on the optimization of financial statements. From the perspective of "public interests", reliability and legal evidence are required as qualitative characters, which is the origin of the traditional "historical cost accounting". From the perspective of "private interest", security investors and financial regulatory authoritieshope that financial statements reflect changes of market prices timely recording "objective" market conditions. This is the origin of "fair value accounting". Whether one set of financial statements can be compatible with these two different views and balance the public interest and private interest? To solve this problem, we design a new balance sheet and an income statement.From 1992 to 2006, a lot of new ideas and new perspectives are introduced into China's accounting practices from international accounting standards in a gradual manner during the accounting reform in China. These ideas and perspectives enriched the understanding of the financial statements in China. These achievements deserve our full assessment and should be fully affirmed. However, academia and standard-setters are also aware that International Standards are still in the process of developing .The purpose of proposing new formats of financial statements in this paper is to push forward the accounting reform into a deeper level on the basis of international convergence.III. THE PRACTICABILITY OF IMPROVING THE FINANCIAL STATEMENTS SYSTEMWhether the financial statements are able to maintain their stability? It is necessary to mobilize the initiatives of both supply-side and demand-side at the same time. We should consider whether financial statements could meet the demands of the macro-economic regulation and business administration, and whether they are popular with millions of accountants.Accountants are responsible for preparing financial statements and auditors are responsible for auditing. They will benefit from the implementation of the new financial statements.Firstly, for the accountants, under the isolated design of historical cost accounting and fair value accounting, their daily accounting practice is greatly simplified. Accounting process will not need assets impairment and fair value any longer. Accounting books will not record impairment and appreciation of assets any longer, for the historical cost accounting is comprehensively implemented. Fair value information will be recorded in accordance with assessment only at the balance sheet date and only in the annual financial statements. Historical cost accounting is more likely to be recognized by the tax authorities, which saves heavy workload of the tax adjustment. Accountants will not need to calculate the deferred income tax expense any longer, and the profit-after-tax in the solid line table is acknowledged by the Company Law, which solves the problem of determining the profit available for distribution.Accountants do not need to record the fair value information needed by security investors in the accounting books; instead, they only need to list the fair value information at the balance sheet date. In addition, because the data in the solid line table has legal credibility, so the legal risks of accountants can be well controlled. Secondly, the arbitrariness of the accounting process will be reduced, and the auditors’ review process will be greatly simplified. The independent auditors will not have to bear the considerable legal risk for the dotted-line table they audit, because the risk of fair value information has been prompted as "not supported by legalevidences". Accountants and auditors can quickly adapt to this financial statements system, without the need of training. In this way, they can save a lot of time to help companies to improve management efficiency. Surveys show that the above design of financial statements is popular with accountants and auditors. Since the workloads of accounting and auditing have been substantially reduced, therefore, the total expenses for auditing and evaluation will not exceed current level as well.In short, from the perspectives of both supply-side and demand-side, the improved financial statements are expected to enhance the usefulness of financial statements, without increase the burden of the supply-side.IV. CONCLUSIONS AND POLICY RECOMMENDATIONSThe current rule of mixed presentation of fair value data and historical cost data could be improved. The core concept of fair value is to make financial statements reflect the fair value of assets and liabilities, so that we can subtract the fair value of liabilities from assets to obtain the net fair value.However, the current International Standards do not implement this concept, but try to partly transform the historical cost accounting, which leads to mixed using of impairment accounting and fair value accounting. China's accounting academic research has followed up step by step since 1980s, and now has already introduced a mixed-attributes model into corporate financial statements.By distinguishing legal facts from financial expectations, we can balance public interests and private interests and can redesign the financial statements system with enhancing management efficiency and implementing higher-level laws as main objective. By presenting fair value and historical cost in one set of financial statements at the same time, the statements will not only meet the needs of keeping books according to domestic laws, but also meet the demand from financial regulatory authorities and security investorsWe hope that practitioners and theorists offer advices and suggestions on the problem of improving the financial statements to build a financial statements system which not only meets the domestic needs, but also converges with the International Standards.基于会计管理理论的财务报表的优化方法摘要本文提供了一个方法,以提高财务报表的可靠性和实用性。

会计专业外文文献翻译原文及译文

会计专业外文文献翻译原文及译文

企业的社会责任:一种趋势和运动,但社会责任是什么,是为了什么?1企业社会责任(CSR )已成为一个全球趋势,涉及企业,国家,国际组织和民间社会组织。

但这远远不能清楚CSR的主张,有什么真正的趋势,是从哪里开始,在哪里发展,谁是项目的主要行动者。

如果把它作为一种社会运动,我们必须要问:什么运动和谁执行?讨论有助于我们反思形成的趋势和如何管理某些特点来迅速和广泛地在全球各地进行扩展,并增加了以下体制变革,特别是对变化中国家之间、企业法人和民间社会组织关系之间的界限的作用。

企业社会责任的趋势在三个方面:作为一个管理框架,新的要求,地方企业;作为动员企业行为,以协助国家的发展援助;和作为管理趋势。

每一个这些画像表明,中心的某些行为,关系,驾驭团队和利益。

我的例子表明,没有人对这些意见似乎比别人更准确,而是,活动包括规范的不同利益、作用因素、起源和轨迹。

这些多重身份的趋势可以部分描述其成功以及它的争论,脆弱性和流动性。

许多公司现在有具体的计划和小节在其网站上处理企业社会责任。

在过去,软条例和指导网络,国际公认的规则一直是一种重要机制,作用在公司、国家和国家间组织的需求,例如,发布指导方针和条例的公司。

在这背景下,国际组织仍然是重要的行动者,他们正在寻求与跨国公司进行对话,而不是试图通过国家控制企业社会责任。

各国际组织不是对企业的社会责任监管机构;而他们却是监管和自我约束的倡议之间的经纪人的最合适人选。

对社会负责行为和监测这些行为的需求越来越多地以国家以外的这些组织为渠道,并强调赞成高比例的自律。

因此,我们看到了软法律(Morth, 2004)的出现,或者是Knill 和Lehmkuhl (2002) 所说的“被规管的自律”,和Moran (2002)所归纳的“精细”或“非正式”规章。

我更喜欢“软法律”和“软规章”的说法,因为他们并不总是非正式的。

软规章常常包括正式报告和统筹程序。

还有,从统筹和行政的观点来看,那些规章和精细还是相去甚远的。

会计信息披露外文文献翻译

会计信息披露外文文献翻译

文献出处:Ebimobowei A. A Study of Social Accounting Disclosures in the Annual Reports of Nigerian Companies [J]. Asian Journal of Business Management, 2011, 3(3): 145-151.原文A Study of Social Accounting Disclosures in theAnnual Reports of Nigerian CompaniesAppah EbimoboweiAbstract: Social accounting is concerned with the development of measurement system to monitor social performance. It is rational assessment of and disclosure on some meaningful domain of companies’ activities that have social impact. Thi s study examines the practice of social accounting disclosure in Nigerian companies. Forty companies from eight sectors quoted in the Nigerian Stock Exchange were randomly sampled. Data were collected from the annual reports of the companies’ for the perio d 2005 to 2007 and the level of disclosure is measured using content analysis and descriptive analysis. The paper found that 82.5% of the companies sampled present social accounting information in their annual reports. The results show that Nigerian companies prefer to disclose social accounting information in the Directors Report, Chairman’s Statement and Notes to the Accounts in the form of short qualitative information. Human resources, community involvement and environment were identified as the most popular themes. Hence, the paper recommends among others that companies should take social accounting as a moral duty; legislation for all companies to disclose social accounting information in Nigeria; social indicators to be developed at the national level in the area of employment opportunities, environmental control, energy conservation, health care etc and professional accounting bodies in the country should collaborate to expand research in social accounting.Key words: Annual reports, social accounting, social disclosure, NigeriaINTRODUCTIONThe increasing need for every organization to disclose in their annual reports the various activities that affect the society is becoming a very fundamental issue all over the world mostly in developed economies, but this is not the case in developing countries like Nigeria. This is because organizations are particularly more interested in the profit maximization objective to the detriment of the society. According to Iyoha (2010), in developing countries, the concern is about how efficient organizations are in terms of how much profits are made and how much dividends are paid. No serious thoughts are given to social issues in the annual reports of organizations such as environmental protection, energy savings, fair business practice, and community involvements etc. Asechemie (1996) stress that the absence of financial data relating to actions and arrangements for social concern in Nigeria is not in accord with the trend in the USA, Europe and Canada where companies are required to report on the effect of compliance with laws governing corporate social conduct on capital expenditures, earnings and competitive position.The objective of this paper is to examine the social accounting disclosures in the annual reports of Nigerian companies. Therefore, the content of annual reports must provide information to users relating to social factors. As Mathews (2002) suggested in his study, documenting and analyzing what is disclosed in the area of social accounting should be one of the feature of corporate social reporting. Hence, this study attempts to answer two main questions: (i) what are the most popular types of social accounting and how is social accounting disclosed in the annual reports of companies in Nigeria and (ii) where is the location of presentation of social accounting in the annual reports of companies in Nigeria. To achieve this objective, the paper is divided into five sections. The next section discusses the theoretical and empirical literatures adopted for the study. Section three examines the methodology of the study; section four examines the findings and discussions while the last section deals with the conclusion and recommendations.Theories on corporate social accounting disclosure behavior:Gray et al. (1995) in Orij (2007) provided a much cited categorization of social accountingdisclosure studies. They talked about three broad classifications of decision usefulness studies, economic theory and social and political theory. The decision usefulness generally relates to the usefulness of accounting information, which is social accounting in this case. These studies are of two types, ranking of information on its perceived decision-usefulness in the financial community and investigations of information on effects on share prices. The economic theory studies are a periphery of agency theory and Positive Accounting Theory (PAT) research. The social and political theory focuses on legitimacy theory (LEGT) and stakeholder theory (STAKT). LEGT and STAKT are theories developed out of political economies. They are overlapping perspectives in a political-economic framework. In theoretical term, Guthrie and Parker (1990) also analyse their empirical evidence in relation to a socio-political economy theory of social disclosure and suggest that:a political economy theory of social disclosure is both viable and may contribute toward our understanding of observed developments in national reporting practices. Corporate social disclosures have appeared to reflect public social priorities, respond to government pressures, accommodate environmental pressures and sectional interests, and protect corporate prerogatives and projected corporate image.Prior empirical studies: A number of studies have been published on the subject of social accounting disclosure. A number of these rely on content analysis of annual reports. There are several different methods to the analysis of narratives in annual reports. Bettie et al. (2004) distinguish two categories: subjective (analyst ratings) and semi-objective (disclosure index studies, content analysis, readability studies and linguistic analysis). Content analysis has been selected for this study because it has been widely used in the accounting research, particularly in social accounting disclosure studies. Since this is the method of analysis in the present study, we limit our review to these studies. Table 1 summary the methodology, sample and main results of these studies.RESULTS AND DISCUSSIONLevel of social accounting disclosure: Table 2 shows that 33 companies (82.5%) from various industry groupings made social accounting disclosures at least for oneyear in their annual reports. Analysis based on industry, showed that chemical and paints, construction and petroleum marketing had 100 percent disclosure of social accounting information. The lowest level of social accounting information was 66.7% contributed by Breweries and conglomerate while companies in the building materials (75%), food/beverages and tobacco (80%), and healthcare (83.3%) level of disclosure from year 2005 to 2007. Therefore, it can be deduced that there is a growing concern for companies reporting social performance in their financial statements.Form of social accounting disclosure: Table 3 shows that in 2005 75% of the companies disclose social accounting information using narrative/pictures and 25% disclose with monetary formats. The year 2006 81% used narrative and 19% used monetary format while in 2007 84% used narrative and 16% monetary format. However, there were also companies that used both narrative and monetary formats of disclosure. Many companies were also found to have used the monetary format to disclose human resource information and environmental contribution primarily related to retirement benefit, training and development and some community based projects such as adopting school, scholarships and donations.Location of social accounting disclosure: Table 4 shows that 4(12.12%) of the sampled companies (Appendix) disclose social accounting information in the chairman’s statement; 17(51.52%) disclose social accounting information in the directors report; 2(6.06%) in the statement of accounting policy; 10(30.30%) in the notes to the accounts. The paper discovers that Directors report is the most popular location where social accounting information is disclosed by companies in Nigeria and also the “notes to the accounts”. This result is also consistent with Mamman (2004) study that Directors report is the most preferred location of social accounting information.Quantification of amount of social accounting disclosure:This study used only number of disclosure as the approach of capturing data through content analysis. Almost all companies disclosed social accounting information in short qualitative discussion and some have extended qualitative discussion where they have sections to disclose the social accounting information especially on human resources andcommunity based projects.Trend of social accounting disclosure: Table 5 shows the trend of social accounting disclosures in Nigeria. Twelve (12) companies representing (36.36%) reveals that human resources is the trend of social accounting disclosure in the annual report; two companies representing (6.06%) says the trend is fair business practice; nine (9) companies representing (27.27%) suggests community development; three (3) companies representing (9.09%) reveals that the trend of social accounting is energy; five (5) companies representing (15.16%) in their annual reports disclosed that the trend is on the environment; and two (2) companies representing (6.06%) disclosed in their annual reports that the trends is on the organization’s products. The analysis therefore reveals that disclosure of social and environmental activities is specifically on the discretion of the companies.CONCLUSION AND RECOMMENDATIONThe study examined social accounting disclosure for a three-year period from 2005 to 2007. The type of social accounting disclosure, form and location were identified in the annual reports of 40 companies. This covers eight sectors of the Nigerian Stock Exchange. The study found that 82.5% of Nigerian Companies disclose one type or the other of social accounting information in their annual reports. These disclosures were voluntary in nature and largely qualitative; contrary to the developed and some developing countries. The most favoured places of disclosure are in the Directors Report, Chairman’s Statement and Notes to the account. The most popular theme that most companies disclose is human resources followed by community involvement and environment. Analysis done by industry found that the petroleum marketing, food/beverages and tobacco, chemicals and paints sectors provides a higher percentage of social accounting disclosure in Nigeria. Therefore, on the basis of the conclusion above, the following suggestions are provided by the researcher to improve the social accounting practice in Nigeria:﹒Companies should take social accounting disclosure as their moral duty; mere legislation would not solve the problem.﹒The government should provide some incentives like differentials in tax treatment, subsidies, rebates etc. so that companies can take social programmes.﹒Researchers should provide the basis and means of social accounting quantification as far as possible.﹒The government should put in place suitable legislation for all companies to compel them to make adequate disclosure of their activities to the society.﹒Professional institutes in the country like the Institute of Chartered Accountants of Nigeria and the Association of National Accountants of Nigeria should work together for developing social accounting and reporting techniques.﹒Social indicators should be developed at the national level in the areas of employment opportunities, environmental control, energy conservation, health education etc.译文会计信息披露,尼日利亚公司年度报告的实证研究阿帕·艾比莫泊威摘要:会计信息披露关系到对社会绩效监督的评估系统的发展。

外文文献翻译上市公司表外负债与会计信息质量

外文文献翻译上市公司表外负债与会计信息质量

外文文献原文+译文原文Off-balance-sheet liabilities of listed companies and the quality of accountinginformationLandsman DAbstractOff-balance sheet liabilities is a corresponding concept to the liabilities in the table, mainly refers to those who have become or may become a liability company, but according to the current accounting standards and system and other reasons not reflected in the company's balance sheet liabilities, including liabilities off-balance-sheet financing and uncertainty. Due to its flexibility and concealment, a listed company through off-balance-sheet liabilities may transfer the debt in the table to table, which will cover its real debt, misleading regulators and external stakeholders. At the same time to the listed company it also bring huge operational risk, long-term, massive occult debt will make the company into a vicious cycle of bad debts, misappropriation of good assets, which in turn bear heavy debt burden. Keywords: Off-balance sheet liabilities; Commercial credit; Quality of accounting information1 IntroductionOff-balance sheet debt financing methods is between legal boundaries, under current accounting standards, it can make the listed companies without any increase in the carrying debt information obtains financing. But the financial fraud of listed company has repeatedly confirmed that off-balance-sheet liabilities have strong concealment, in addition to the debt off-balance sheet form misleading shareholders and regulators to gate, inflated profits back to the listed company itself buried under the enormous risk of insolvency. In off-balance-sheet debt crisis before the outbreak of the market is calm, but once the crisis outbreak is devastating, not only make the country suffered huge losses, shareholder, creditor, the listed company itself is on the verge of bankruptcy. As a result, improve the quality of accounting information, timely monitoring off-balance-sheet liabilities risk to maintain market runningsmoothly play a crucial role. But under current accounting standards, off-balance sheet liabilities in code outside the scope of mandatory disclosure, in regulatory gray area, how to break through the existing conditions to identify off-balance-sheet liability risks and strengthen supervision? This is the main purpose of this study. Off-balance-sheet liabilities to listed companies and accounting information users have brought huge hidden risks. In this article, through the empirical study found that off-balance-sheet liabilities of information disclosure and significantly positively related to the accounting information quality, the voluntary disclosure of information off-balance sheet liabilities has the high quality of accounting information of listed companies. And the same as alternative ways of financing is significantly related to the commercial credit and off-balance-sheet liabilities that is to say, commercial credit can be used as information identification and supervision of off-balance sheet liabilities for substitution variables. For how to improve the quality of accounting information has the certain enlightenment, and the realistic condition for limit regulators to strengthen off-balance-sheet liabilities under supervision and optimal risk control functions, as well as external stakeholder identification off-balance sheet liabilities risk provides credible basis.2 Theoretical analysesBased on the principal-agent theory, the accounting information is seen as reducing agent cost effective contracting technology of component, thus the corresponding contract value. Full and transparent accounting information is not natural, but after a long process of historical development. Off-balance-sheet disclosure is the financial statement disclosure of information outside of the body, should belong to the important component of the accounting information disclosure. Off-balance-sheet disclosure has experienced the development of the specific, from the role of the information inside the table added gradually developed to the role of information in the table are equally important. As the changes of the capital market and the improvement of accounting standards, off-balance sheet liabilities due to its concealment and harmfulness of gradually become academics and regulators focus on the object of off-balance-sheet disclosure. The listed company to off-balance-sheetliabilities motivation is what? Through off-balance-sheet liabilities of listed companies to open up the financing channels, to exaggerate the investment yield, hid losses inflated profits, increase financial leverage effect, such as objective, the behavior that accounting information is no longer complete and true, even from a certain extent with the deceptive. For the disadvantages of off-balance sheet liabilities and standard way, Levy think off-balance-sheet liabilities while enhances the company's ability to borrow but did not make the actual financial situation improved, he proposed that the accounting principles board (APB) revised accounting standards as soon as possible so as to promote the lease and capitalization subsidiary merger standardization. Hancock on derivative financial instruments after study that off-balance-sheet liabilities off-balance sheet liabilities in increasing scale and complexity, but also in its risk multiplied. Miller think off-balance-sheet liabilities to hide the real financial situation, induction of the accounting information users to accept a lower return on capital, the difference of off-balance-sheet liabilities correspond to the risk/reward. They further suggest that accounting principles board to improve the quality of financial statements to revision of generally accepted accounting principles (GAAP), by all the important lease capitalization in its market value at the balance sheet so as to realize internalization. Under the joint efforts of research and practice, regulators began to off-balance-sheet liabilities disclosed standardization into the agenda. The Securities and Exchange Commission (SEC) in 2000 formally adopted the fair information disclosure law, the law requires the listed companies must take the initiative to disclose off-balance sheet transactions, arrangements and debt and a series of outside the table can bring significant impact on the company's financial information. The securities and exchange commission introduced by the Sarbanes act again to off-balance-sheet disclosure made strictly regulate, including section 401 clear requirements must be disclosed in the annual report and quarterly reports of listed companies all involve significant off-balance-sheet business of the company, or liabilities (including contingent liabilities) of the contract. From which it can be seen that the securities and exchange commission to off-balance-sheet disclosure regulation by off-balance-sheet disclosureproject to strengthen the disclosure of off-balance sheet liabilities.3 The hypothesisRegulation of accounting information of listed companies has become increasingly strict, the concealment and flexibility of off-balance sheet liabilities has gradually become the preferred means of financial fraud, the serious influence the use of external information users of accounting information. Modern contract theory, the asymmetric information may cause "adverse selection" and "moral hazard" and other problems, and damage to the relevance and reliability of accounting information. As a result, improve the quality of accounting information become topics of great concern to scholars and external information users. So what is the high quality of accounting information? Watts and Zimmerman, the study found information about cash flow and the value of the company to be able to pass through the accounting surplus. Then after scholars to further improve the consensus, the surplus quality directly decides the quality of the accounting information, the higher earnings quality, and external information users can directly according to the surplus information more accurately assess the value of the company and to predict the future cash flow, so the accounting information quality also is higher. Existing research shows that in addition to complete the mandatory disclosure in the table, many companies are still a lot of off-balance sheet on voluntary disclosure of information in the form of notes. Some really active in the form of notes to financial statements of listed companies exposed part of the off-balance sheet liability information, its aim is to eliminate the contract both sides due to information asymmetry and the potential crisis. American economist Fama think, effective capital market asset prices can quickly fully respond to all available information, this means that even if via notes or other forms of off-balance-sheet disclosure, off-balance sheet liabilities information will also be able to fully convey the liability or risk information to the user. But if the capital market is weak efficient, off-balance sheet liabilities only be moved to the table to reflect, to report the reader's attention. In this premise, the listed company off-balance-sheet liabilities note type of voluntary disclosure of information to improve the quality of accounting information? Under the conditions of weak efficient capital market, theexternal information users and how to effectively identify off-balance-sheet liabilities risk? Thus we proposed:Hypothesis 1: off-balance-sheet liabilities voluntary disclosure of information of listed companies is helpful to improve the quality of accounting information, thus the weak efficient market quality of the external information users of accounting information available to determine off-balance sheet liabilities of listed companies to disclose the situation.Off-balance sheet debt reduced the overall paper sheets, through this kind of financing way of listed companies will not only satisfy the capital demand and reduce the asset-liability ratio. In order to ensure the smooth running of the market order, and for regulators and external stakeholders, effective identification off-balance-sheet liabilities risk of listed company that is more important.That is to say that commercial credit supply is greater than the demand, thus infer the commercial credit of listed companies can get enough. Therefore, when there is a shortage of funds of listed companies operating problem, off-balance sheet debt and commercial credit both accessible informal financing has become a necessary tool. So if there is a kind of connection between the two? Thus we propose:Hypothesis 2: in monetary policy loose, big off-balance-sheet liabilities of listed companies may suggest that the operation problems, so it will also increase demand for commercial credit, namely the off-balance sheet liabilities rise will lead to the increase of commercial credit.4 ConclusionsThis paper listed companies from the concealment of the off-balance sheet liabilities and risk, through the empirical research for regulators and external stakeholders to identify a feasible way to off-balance-sheet liabilities risk effectively. Study found that off-balance-sheet liabilities disclosed to significantly improving the quality of accounting information, so in the table, liabilities emerge in endlessly, and various forms of today, for regulators and external stakeholders, low quality of accounting information may imply poor disclosure of information of off-balance-sheet liabilities. This conclusion on the premise of weak effective capital market is veryimportant, off-balance sheet liabilities in the form of notes to the information does not make effective use of external information users, but the external information users can through the quality of accounting information to judge the off-balance sheet liabilities of listed companies to disclose. That is to say, the low quality of accounting information of listed companies may be lurking behind the huge off-balance-sheet liabilities, worthy of regulatory focus on, external stakeholders to strengthen risk prevention. Because the quality of accounting information is relate to the off-balance sheet liability information more accessible, this research conclusion has realistic feasibility. In addition, the results confirmed that the off-balance sheet liability information incomplete and not standard disclosure will reduce the quality of accounting information, this is very bad for the accounting information users, will increase the agency cost. Therefore, strengthen the information disclosure regulation of off-balance sheet liabilities. Accelerating the process of off-balance sheet internalization of system construction can effectively improve the quality of accounting information.文献出处:Landsman D. Off-balance-sheet liabilities of listed companies and the quality of accounting information [J]. Accounting and Business Research, 2016, 4(3): 19-30.译文上市公司表外负债与会计信息质量Landsman D摘要表外负债是与表内负债相对应的概念,主要指那些已经成为或有可能成为公司负债,但按照现行会计准则和制度及其它原因而未能在公司资产负债表中得到反映的负债,包括表外筹资和不确定性负债。

企业会计信息化研究外文文献翻译最新译文

企业会计信息化研究外文文献翻译最新译文

文献出处: T Vatuiu. The study of enterprise accounting information [J]. Annals of theUniversity of Petrosani, Economics, 2015, 5: 201-208.原文The study of enterprise accounting informatizationT VatuiuAbstractThe development of information technology is accompanied by the rise and popularization of computer and the emergence and development, the original computer is applied to the finance department handling accounting business, enterprise information since birth is the accounting information into the center, that is to say, the success of accounting informationization construction is directly related to the success of the enterprise informationization strategy. In the enterprise implementation of accounting information system is conducive to further standardize the operation of the enterprise funds, for the enterprise management decision makers to provide real and effective reference data, in a rapidly changing market competition to accurately grasp the market changes, better management combined with the actual enterprise decision-making, to achieve the optimal allocation of resources and benefits.Keywords: enterprise; Accounting informationization; ERP1 IntroductionWith the development of computer information technology and penetration in the social each domain, the information technology is more and more attention, so information technology is also naturally become the important driving force of economic development. At present, the world has become a global village, networking and globalization has become the main trend of world development, starting in the 1980 s, countries began to make the informatization development strategy adjustment and as an important support power, promote the development of national economy, also took to the formal information construction development road, national policies, the informationization construction as an important part for a period of time in the future of the country's development goals, and to promote and facilitate the process ofthe country's enterprise information construction, to lay a solid position in the market competition.Enterprise as the important pillar of national economy growth, closely related to the development and growth of the national economy informatization as the subsystem of the national informatization, is the surest way to achieve modernization of the enterprise, therefore, only to promote the enterprise information, to better promote the national economic information.2The concept and related theories of enterprise informatization2.1 The meaning of enterprise informationAccounting information is the wide application of information technology in the accounting work, the development of information resources, the use of information technology to promote enterprise to develop the economy and improve the economic benefit, and to provide comprehensive information services to various aspects of the process. The main content of the accounting information is to establish a system of accounting information and accounting information system is the main part of enterprise information system, the basic law of development is consistent with the enterprise information system. Accounting informationization is popular in recent years a noun, it is different from the accounting computerization, is to cater to the information society and the application of a new word, it has realized the accounting and the integration of information technology, is the enterprise management in the new period of main channel of information for policy makers, and effectively solve the accounting computerization existence island phenomenon is an important way, is conducive to standardize the procedures of accounting management and enhancing the market competitiveness of the enterprise. Accounting information is the key of enterprise informatization construction and most important, to the enterprise overall information-based construction and implementation plays an important role in success.2.2 ERP concepts and related theoriesERP (Enterprise Resource Planning) refers to an Enterprise Resource Planning system, it is GartnerGrouP companies in the United States in 1990.It will enterpriseplanning, management, marketing, finance, purchasing set at an organic whole, to the customer's needs and the activities of the enterprise goal to unify, to all the enterprise resources integration into a dynamic complete supply chain. The core of the ERP is the management of the enterprise is an organic whole, emphasized the ERP is an enterprise's lean management and lean production, realized the unity of advance planning and afterwards. Use of ERP software system to realize the coordination and control of each department, make the business process tends to rationalize, to better achieve department the input for the optimization of the reconstruction to lay the work, is the enterprise continuously self-assessment and important way to improve management.ERP has experienced four stages of development, its core is to realize the management thoughts of the entire supply chain comprehensive dynamic effective management and control. In particular, mainly includes three aspects of thought. One is reflect of the whole supply chain resources comprehensive management thoughts. Today is the era of win-win cooperation, enterprise competition is, in fact, to a certain extent has evolved into a competition between the supply chain and another supply chain problems, enterprises should not only know the optimal configuration of their resources, also need to coordinate the advantage of other resources, such as with suppliers, customers, and the relationship between the sales network and so on, thus to the all-round development of the enterprise into a dynamic system, and to effectively implement the management of the enterprise supply chain is a dynamic and control. Tt is to embody the lean production, concurrent engineering and virtual manufacturing management thinking. The core of the ERP system shown above all is lean production. Is all supply chain partners into the overall production process, to establish the enterprise and the interests of customers, suppliers and other partners sharing mechanism, form an integral part of the supply chain. Followed by agile manufacturing, when there is new on the market opportunities and business partners can't meet, can rapidly form a virtual factory, thus realize products in the limited time and resources optimization configuration, enterprise in market activity, high quality and diverse and flexible. Then, it is reflected in advance plan to control the overallmanagement of thoughts later. ERP enterprise production planning, logistics demand plan, sales plan, budget and human resources plan integrated into a whole system, and successfully realized the centralization and unification of various plans for formal management. In addition, the ERP system of the transaction to the relevant accounting synchronous records, ensure the cash flow and logistics of synchronization and consistent, can understand the ins and outs of money thus to control and management in a timely manner.3Enterprise informatization development present situationFrom the perspective of the development of accounting information system, the early of the accounting information system is mainly the financial and reporting software, solve and manage the daily accounting and report processing, the financial department are introduced corresponding accounts receivable and payroll data system. But the period of the establishment of the accounting information system often do not pay attention to economic benefits, in the process of actual operation on data processing is also a lack of control, as a result, the user for the accounting information system is still in the stage stay at a respectful distance from sais the further development of the computer in the world and popular, wins initial success in accounting information system in the financial sector, then gradually developed, and the accounting information system in other department managers also begin to pay close attention to the information system of investment benefit, at this point, an enlarged the scope of information system, in addition to the accounting information system, also including the personnel information system, marketing information system and logistics information system, after that, the accounting information system to the widespread popularity and spread of development stage, the stage by the managers convene the different functions of the overall planning, and set up a special information management center of internal control activities, to start the project management system, since then, the accounting information system on the right track.3.1 Accounting network systematization degree is lowAccounting information is the premise of accounting network, according to relevant data shows: enterprise all serious resource waste. This is mainly because thenetwork degree applied in enterprise accounting system is too low. Enterprise data submitted too many mistakes. This is mainly because the typing errors in the process of data transmission, computer fault, and other factors. Enterprise cannot very good coordination between different departments. Only in the financial sector, mainly because the accounting software applications cannot be good coordination with other departments.3.2 Insufficient understanding of ERP systemFirst, many enterprise ERP system is regarded as the common office software, rather than use it as an integral part of the management system to run, the myth has led to many enterprises will be the construction of the ERP investment focus in ERP software system, and neglect to personnel training and the adjustment of the system process. Second, insufficient understanding of ERP's return on investment. Many small and medium-sized enterprise knowledge of ERP system there is a big deviation, either the ERP system is considered to be the panacea to solve the problem of enterprise all, don't think it's not much value to the enterprise, can objectively evaluate the value of the ERP system makes the ERP investment return expectations appeared larger gap. Third, the lack of understanding of the function of ERP system, think that ERP system is the simple use of inventory, logistics and financial system, not the whole development of the enterprise management planning together, through the system dynamic adjustment to realize the unification of the whole enterprise management.3.3 The accounting business process is not standardEnterprise accounting information system from accounting subject classification, the accounting information collection, selection, summary, but the current implementation, accounting information system provides information far cannot satisfy the needs of corporate decision makers, so that the accounting activities became independent departments in operation, the data generated by the natural and the business sector has been out of line. Enterprise after the implementation of accounting information system, simply by using the computer instead of manual accounting, and failed to change from the whole enterprise accounting businessprocess, did not realize the fundamental process reengineering. And in practice, enterprise capital is seriously lagging behind the logistics information, thus causes the enterprise business process can't satisfy the need of real-time control in time, nature of accounting information and enterprise management state of point-to-point statistics, provide to the enterprise information management and the policy makers also loses the relative authenticity, the reliability of the information quality decline.4 ConclusionAccounting informationization is the enterprise informatization of the central nervous, many enterprises in the construction of informatization, often based on accounting information into a breakthrough, the accounting information is the core of enterprise informatization enterprise accounting information is an ongoing process, the goal is to set up the enterprise decision support system, decision-making for real-time, accurate and complete the production and transmission of information, realize the optimal allocation of resources, the rational flow of value; Help enterprises to quickly make the right decisions, in the harsh competition environment to survive and continue to grow stronger. Companies must also be on the outer and inner risk of the enterprise effective management and control, only through the implementation of the strategy analysis in the process of small and medium-sized enterprise accounting information system analysis, and can effectively deal with accounting information, accounting information system, internal control and external risk management, and to better promote the small and medium-sized enterprise accounting information system to realize healthy and sustainable development.译文企业会计信息化问题研究T Vatuiu摘要信息化的发展是伴随着计算机的兴起和普及而出现和发展的,最初计算机是应用于财务部门处理会计业务的,企业信息化从诞生开始就是以会计信息化为中心的,也就是说会计信息化建设的成功与否直接关系到企业信息化战略的成功。

外文翻译--财务会计概念的声明会计信息质量特征

外文翻译--财务会计概念的声明会计信息质量特征

本科毕业论文(设计)外文翻译外文出处Journal of Accountancy;Aug80, V ol.150 Issue 2,P105-120,16p外文作者Miller, Paul B. W.原文:Statement of Financial Accounting Concepts No.2—Qualitative Characteristics of Accounting InformationPrimary Decision-Specific QualitiesRelevance and reliability are the two primary qualities that make accounting information useful for decision making. Subject to constraints imposed by cost and materiality, increased relevance and increased reliability are the characteristics that make information a more desirable commodity-that is, one useful in making decisions. If either of those qualities is completely missing, the information will not be useful. Though, ideally, the choice of an accounting alternative should produce information that is both more reliable and more relevant it may be necessary to sacrifice some of one quality for a gain in another.To be relevant, information must be timely and it must have predictive value or feedback value or both. To be reliable, information must have representational faithfulness and it must be verifiable and neutral. Comparability, which includes consistency, is a secondary quality that interacts with relevance and reliability to contribute to the usefulness of information. Two constraints are include in the hierarchy, both primarily quantitative in character. Information can be useful and yet be too costly to justify providing it. To be useful and worth providing, the benefits of information should exceed its cost. All of the qualities of information shown are subject to a materiality threshold, and that is also shown as a constraint.RelevanceRelevant accounting information is capable of making a difference in a decision by helping users to form predictions about the outcomes of past, present and future events or to confirm or correct prior expectations. Information can make a difference to decisions by improving decision makers’ capacities to predict or by providing feedback on earlier expectations. Usually, information does both at once, because knowledge about the outcomes of actions already taken will generally improve decision makers’ abilities to predict the results of similar future actions. Wit hout a knowledge of the past, the basis for a prediction will usually be lacking. Without an interest in the future, knowledge of the past is sterile.Timeliness, that is, having information available to decision makers before it loses its capacity to influence decisions, is an ancillary aspect of relevance. If information is not available when it is needed or becomes available so long after the reported events that it has no value for future action, it lacks relevance and is of little or no use. Timeliness alone cannot make information relevant, but a lack of timeliness can rob information of relevance it might otherwise have had.ReliabilityThe reliability of a measure rests on the faithfulness with which it represents what it purports to represent, coupled with an assurance for the user that it has that representational quality. To be useful, information must be reliable as well as relevant. Degrees of reliability must be recognized. It is hardly ever a question of black or white, but rather of more reliability or less. Reliability rests upon the extent to which the accounting description or measurement is verifiable and representational faithful. Neutrality of information also interacts with those two components of reliability to affect the usefulness of the information.Verifiability is a quality that may be demonstrated by securing a high degree of consensus among independent measures using the same measurement methods. Representational faithfulness, on the other hand, refers to the correspondence or events those numbers purport to represent. A high degree of correspondence, however, does not guarantee that an accounting measurement will be relevant to the user’s needs if the resources or events represented by the measurement are inappropriate tothe purpose at hand.Neutrality means that, in formulating or implementing standards, the primary concern should be the relevance and reliability of the information that results, not the effect that the new rule may have on a particular interest. A neutral choice between accounting alternatives is free from bias towards a predetermined result. The objectives of financial reporting serve many different information users who have diverse interests, and no one predetermined result is likely to suit all interests.Comparability and ConsistencyInformation about a particular enterprise gains greatly in usefulness, if it can be com pared with similar information about other enterprises and with similar information about the same enterprise for some other period or some other point in time. Comparability between enterprises and consistency in the application of methods over time increases the informational value of comparisons of relative economic opportunities or performance. The significance of information, especially qua ntitative information, depends to a great extent on the user’s ability to relate it to some benchmark.MaterialityMateriality is a pervasive concept that relates to the qualitative characteristics, especially relevance and reliability. Materiality and relevance are both defined in terms of what influences or makes a difference to a decision maker, but the two terms can be distinguished. A decision not to disclose certain information may be made, say, because investors have no need for that kind of information (it is nit relevant) or because the amounts involved are too small to make a difference (they are not material). Magnitude by itself, without regard to the nature of the item and the circumstances in which the judgment has to be made, will not generally be a sufficient basis for a materiality judgment. The Board’s present position is that no general standards of materiality ban be formulated to take into account all the considerations that enter into an experienced human judgment. Quantitative materiality criteria may be given by the Board in specific standards in the future, as in the past, as appropriate.Source: Journal of Accountancy;Aug80, V ol.150 Issue 2, P105-120,16p译文:财务会计概念的声明——会计信息质量特征制定具体决策的主要特征相关性和可靠性是使会计信息对于制定决策有用的最主要的两个特征。

会计信息质量外文文献-上市公司

会计信息质量外文文献-上市公司

会计信息质量在投资中的决策作用对私人信息和监测的影响安妮比蒂,美国俄亥俄州立大学瓦特史考特廖,多伦多大学约瑟夫韦伯,美国麻省理工学院1 简介管理者与外部资本的供应商信息是不对称的在这种情况下企业是如何影响金融资本的投资的呢?越来越多的证据表明,会计质量越好,越可以减少信息的不对称和对融资成本的约束。

与此相一致的可能性是,减少了具有更高敏感性的会计质量的公司的投资对内部产生的现金流量。

威尔第和希拉里发现,对企业投资和与投资相关的会计质量容易不足,是容易引发过度投资的原因。

当投资效率低下时,会计的质量重要性可以减轻外部资本的影响,供应商有可能获得私人信息或可直接监测管理人员。

通过访问个人信息与控制管理行为,外部资本的供应商可以直接影响企业的投资,降低了会计质量的重要性。

符合这个想法的还有比德尔和希拉里的比较会计对不同国家的投资质量效益的影响。

他们发现,会计品质的影响在于美国投资效益,而不是在日本。

他们认为,一个可能的解释是不同的是债务和股权的美国版本的资本结构混合了SUS的日本企业。

我们研究如何通过会计质量灵敏度的重要性来延长不同资金来源对企业的投资现金流量的不同影响。

直接测试如何影响不同的融资来源会计,通过最近获得了债务融资的公司来投资敏感性现金流的质量的效果,债务融资的比较说明了对那些不能够通过他们的能力获得融资的没有影响。

为了缓解这一问题,我们限制我们的样本公司有所有最近获得的债务融资和利用访问的差异信息和监测通过公共私人债务获得连续贷款的建议。

我们承认,投资内部现金流敏感性可能较低获得债务融资的可能性。

然而,这种可能性偏见拒绝了我们的假设。

具体来说,我们确定的数据样本证券公司有1163个采样公司(议会),通过发行资本公共债务或银团债务。

我们限制我们的样本公司最近获得的债务融资持有该公司不断融资与借款。

然而,在样本最近获得的债务融资的公司,也有可能是信号,在资本提供进入私人信息差异和约束他们放在管理中的行为。

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会计信息质量在投资中的决策作用对私人信息和监测的影响安妮比蒂,美国俄亥俄州立大学瓦特史考特廖,多伦多大学约瑟夫韦伯,美国麻省理工学院1简介管理者与外部资本的供应商信息是不对称的在这种情况下企业是如何影响金融资本的投资的呢?越来越多的证据表明,会计质量越好,越可以减少信息的不对称和对融资成本的约束。

与此相一致的可能性是,减少了具有更高敏感性的会计质量的公司的投资对内部产生的现金流量。

威尔第和希拉里发现,对企业投资和与投资相关的会计质量容易不足,是容易引发过度投资的原因。

当投资效率低下时,会计的质量重要性可以减轻外部资本的影响,供应商有可能获得私人信息或可直接监测管理人员。

通过访问个人信息与控制管理行为,外部资本的供应商可以直接影响企业的投资,降低了会计质量的重要性。

符合这个想法的还有比德尔和希拉里的比较会计对不同国家的投资质量效益的影响。

他们发现,会计品质的影响在于美国投资效益,而不是在日本。

他们认为,一个可能的解释是不同的是债务和股权的美国版本的资本结构混合了SUS的日本企业。

我们研究如何通过会计质量灵敏度的重要性来延长不同资金来源对企业的投资现金流量的不同影响。

直接测试如何影响不同的融资来源会计,通过最近获得了债务融资的公司来投资敏感性现金流的质量的效果,债务融资的比较说明了对那些不能够通过他们的能力获得融资的没有影响。

为了缓解这一问题,我们限制我们的样本公司有所有最近获得的债务融资和利用访问的差异信息和监测通过公共私人债务获得连续贷款的建议。

我们承认,投资内部现金流敏感性可能较低获得债务融资的可能性。

然而,这种可能性偏见拒绝了我们的假设。

具体来说,我们确定的数据样本证券公司有1163个采样公司(议会),通过发行资本公共债务或银团债务。

我们限制我们的样本公司最近获得的债务融资持有该公司不断融资与借款。

然而,在样本最近获得的债务融资的公司,也有可能是信号,在资本提供进入私人信息差异和约束他们放在管理中的行为。

相关理论意味着减少公共债务持有人获取私人信息,因而减少借款有效的监测。

在这些参数的基础上,我们预测,会计质量应该有一个对企业的投资现金流比与银行债务的公共债务公司影响较大,。

第二,我们预计,对公司的会计质量的投资波利效果,资本投资者入境计划,将取决于是否贷款合同限制投资。

我们预测,当企业面临投资合同限制,过度投资问题是部分需要解决的,会计质量变得不那么值钱了,不太可能影响到投资现金流灵敏度。

提供关于这些假设的证据,我们估计的投资模型内部现金流分别进行公司抽样调查,只有公共债务问题,有问题的公司,银团贷款的样本。

在这些回归中,我们与我们的互动措施的现金流量变量会计质量调查是否影响会计质量的投资现金流敏感性。

对于银行的样本,我们进一步互动的现金流和会计质量变量的乘积投资限制的变量,以研究是否资本开支公约影响投资现金流敏感性。

我们同时采用了普通最小二乘法(OLS)和内源性转换模型的估计,以解决潜在的样本选择偏差与银行的债务从公众产生融资选择。

我们第一阶段的决定因素模型,融资与私人债务市场遵循Bharath。

我们估计第二阶段的投资模型回归政权分开对企业具有公共与私人债务。

这些制度的回归也在资本开支内生性控制公约的选择使用从决定因素第一阶段回归模型拟合值包括在债务合同的投资限制。

与以前的研究结果一致,我们发现,投资是敏感的内部现金流量和投资现金流敏感性都会较高地降低公司会计质量。

这些结果说明了双方的举行与内生转换模型回归。

我们还发现,两个估计技术,减少投资限制,投资现金流敏感性,降低了会计质量的重要性。

在这总体样本的分析使用中,我们没有发现二者之间的关系类型的贷款人提供资金和会计质量影响投资现金流的敏感性。

在一系列的敏感性分析中,我们也考虑了可能性,投资现金流敏感性获取信息不仅仅是financ-荷兰国际集团的制约,但关于公司的投资机会也是为了解决这个问题的关注,我们研究的资金来源与投资现金的影响流敏感性的财政约束与无约束的企业公司不同。

要确定企业财务约束,我们使用的事前定义金融约束的基础上,吴怀特德2004指数。

我们预期该公司的财务约束投资,谁拥有更大的信息不对称问题,谁将更加依赖于内部产生的资金。

同样,投资现金流敏感性为财政浓度,紧张的企业将取决于会计信息的品质,私人信息的存在,以及合同投入使用限制。

根据这些推测,我们发现,对于经济约束事务所、会计师质量是同样重要的投资在减少,在私人信息存在现金流敏感性。

这些结果支持这一假说,即私人信息和会计质量作为替代品。

在第二个敏感性分析,我们采用资产负债表的流动性方法,去解决发展中捕获的我们关注的机会现金流措施影响现金流和协会之间的投资目的。

阿尔梅达Campello和魏兹巴赫(2004)认为更换与现金持有量的变化会减少投资的进而影响投资机会集合,如现金余额变动应与融资约束的情况下的投资机会相一致。

与以往的结果是相同的,我们发现,会计质量降低现金流量的敏感性,但贷款人获得私人信息减少了这种影响。

我们的研究结果证实了在麻省理工学院会计质量的重要性,信息不对称对投资的负面影响,现金流的敏感度。

我们的研究结果也与比德尔和希拉里的一贯2006年会计质量参数一致,应发挥其作用时,以较低的CAPI-塔尔供应商的选择信息解决问题的缓解机制。

然而,他们没有通过与会计质量发挥的作用不一致来改善投资在债券市场的效率。

我们的论文也拓展了我们对帐户重要性的认识,其手段是识别环境信息,其中该公司的质量会计信息是可能重要的。

当信息-尝试问题可能是最大时,会计信息质量更显得尤为重要。

然而,在这些设置中,如果供应商施加外部资本合同投资限制,或有机会获得私人信息,那么会计质量并不那么重要。

此外,我们发现,会计质量降低了资产负债表中的现金流动性的敏感性流,而银行债务表明在面对重要会计质量下降时,我们的投资现金流敏感性结果不只是由于现金流量捕捉企业的投资机会集构成的。

第二节是我们的研究背景。

第3节中我们讨论我们的会计科技发展。

在第4节我们描述了我们的样本。

第5节为我们的研究设计。

第六节为研究结论。

2 背景最近的几项研究论文质量的会计事务所效应,投资采用了多种方法。

布须曼人,Piotroski,史密斯(2005)公司的重点倾向,及时退出洛杉矶资本荷兰国际集团的项目。

当投资机会减少时,他们调查是否与企业所在的国家会计确认的更及时的会计制度的特点经济损失更迅速地减少资本投资。

他们争辩说,他们的研究结果支持这一假说而且这种影响是在国家加强同更加分散的所有权。

威尔第(2006)不仅关注公司是否在美国过度投资,而且还与他们是否在ING投资不足项目的积极现在的价值工程。

他的调查结果,即减轻了会计质量更高过度投资的问题,而影响对企业加强与存款保险计划,与persed、布须曼(2005)等人所有权相似。

不过,他指出,''不能断定是由于较低的投资不足,在减少信息不对称会计质量公司和投资者之间的''。

比德尔和希拉里(2006年)审查会计质量如何影响公司的投资现金流敏感性。

他们发现,更高的质量是会计伴随着较低的投资现金流在美国的敏感性,但不是在日本。

他们认为,在这两个不同的结果国家驱动的事实,更在美国资本通过公平交易提供了投资者不获得私人信息的渠道。

他们不直接测试此解释。

此外,由于他们承认,但目前尚不清楚这私人债务市场属性驱动的结果。

一旦资金供应的失去监控管理,他们的测试不区分贷款人的私人信息获取能力与他们的能力。

因此,现行的研究审议有关投资的会计质量的影响浓度,会计质量提高投资效率,但主要改进是在公平的企业所有权是可能的资金来源。

鉴于与Bharath结果等。

2008年,弗朗西斯、拉方德、奥尔森和席佩尔2002年,维滕贝格- Moerman2008年,企业相对高等会计质量奖励了在债务成本减少的情况,这种资本成本较低而不会导致提高投资效率。

这些文件的基本论点是提高会计质量允许贷款人以降低成本信息不对称,这表明会计质量应是增加对企业债务融资的依赖投资效率。

在本文中,我们试图调和的情况下在这些结果中寻找美国债券市场,会计质量很可能是最重要。

我们也试图区分贷款人的影响,会计的作用与质量监测信息起着降低融资约束,提高投资效率的作用。

相关研究认为,描述为一个连续获得美国债务市场私人信息和监测。

看看其中的一端是公开的债务持有人谁没有直接进入私人的信息,开展非常小的监测。

在另一端是私人银行债务,这是贷款人谁获得更多的私人信息和含有大量的贷款契约。

有很多理论银行erature,侧重于对银行的能力,以减少信息不对称。

在詹姆斯1987年,这些理论模型提供了实证支持的结果银行提供便宜的通知,而不是资金昂贵的提供的资金的公共债务。

同样,Krishnaswami和苏巴马廉(1999)发现具有更大程度,企业信息不对称依赖银行债务。

先前的研究也记录了该公约使用不同的市民与银行债务。

1995年至1997间样品使用公约和2003年公约的数据可在固定收益证券数据库查到。

他们发现,只有不到百分之五,这些问题包括资本开支限制,而史密斯和苏菲(2009)文档在银团贷款这些公约的发病率要高得多。

三他们发现在32个样品3720个数据处理与公约的资本开支限制。

我们利用在银行获取私人信息的RelA差值tive公共债务持有人的私人信息,探讨如何影响在减少投资现金流量的作用,会计质量起着敏感性。

此外,资本开支公约的患病率银行债务的合同,使我们进一步区分的重要性银行的私人信息,并能够监测借款人减轻信息问题。

3发展在信息问题的情况下,投资决策不应该依赖内部现金流。

然而,存在管理者与外部资本的供应商的信息不对称,企业可能面临融资约束使他们依靠内部产生的资金金融投资(Fazzari,哈伯德和Peterson1988年,2000年)。

企业对内部现金流入的依赖程度将增加管理者和资本提供者对信息的不对称性。

例如,弗朗西斯,施舟和Vincent(2002)发现了积极凯联与凯森之间的市场反应分析的报告及季度公司盈利英格斯公告。

同样,LO(2006)认为,私人和公共信息来源可以相互补充,如果公共信息包含变得更加复杂的数据信息后可以补充说明和解释。

鉴于冲突的预报,从理论与实证研究系统来看,我们期望在确定投资现金流敏感性的情况下,获得私人信息和会计质量可以成为无论是作为替代品或作为补充的依据。

我们的第一个假设是:假设1:如果公共和私人信息是替代品,并如果加强这两个信息来源的补充的话,对于投资现金流影响会计质量灵敏度为减轻企业签发银行债务相对于那些issu-荷兰公共债务。

此外,银行往往加强其债务协议,以限制管理者的机会投资的明确条款。

这些公约提供了一种替代机制,以减轻银行与信息不对称的相关问题。

前提是资本开支科夫- nants提供一个替代解决信息问题的机制的基础上,我们预计,这些公约的存在会缓解会计质量在减少投资,现金流敏感性的重要性。

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