基于信息的角度的会计概念框架【外文翻译】

《基于信息的角度的会计概念框架【外文翻译】》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。

1、外文文献原文原文：Conceptualframeworksofaccountingfromaninformationperspective3.Demandforinformation3.1.TheusersoffinancialstatementsThedemandforaccountinginformation,evenforasimplefirmandonlyconsideringtheowners(andpotentialowners)andthemanager,isquitecomplicated.Thepre

2、sentandpotentialownershaveinvestmentdecisionsaswellascontroldecisions.Thedemandforinformationdependsuponthefuturecashflows,thecontrolproblemthatisfacedbytheorganization,theaccessofthetwopartiestoinformation,whetherthereisanyprivateinformation,andthepossibleobser

3、vablestobeusedincontracting.Theusefulnessofcommunicatedprivateinformationisverysensitivetoallofthesefactors.Consequently,evenatthefirmlevel,thedemandforinformationandtheoptimalchoiceofaccountinginformationsystemwillbeveryspecifictothefirmcharacteristics.Thedeman

4、dforinformationispartlyaresponsetothefictionsinthemarketsfacedbythefirmandtheinternationshipamongtheavailablesourcesofinformation,thegoalcongruenceofmanagement,andtheconstituentsofthefirmandtheincentives.Aminorchangeinoneinformationsourcemighthavedramaticconsequ

5、encesfortheinformationcontentandtheuseofaccountingaccruals.Thereportingincentivesarehardtocontrol.Thusthereisnouniversallybestwaytomanagethereportingofthefirm.Thechoicemustreflectacostbenefitcomparisoninordertoreachanoptimalsystem(ChristensenandDemski,2003).Thei

6、nformationcontentoftheaccountingsystemismainlyfirm-specificinformationprovidingtheinvestorswithinputfortheirinvestmentdecisions.MostoftheinformationcontainedintheaccountingsystemisendogenoustothefirmbutsomepiecesofinformationaretheconsequenceofThemixingofendogen

7、ousandexogenousinformation.Theprimeexampleofthisisfairvaluevaluation,whichincludesmarketinformation.Modemfinancehastaughtusthatarational,riskadverseinvestorinvestsina11diversifiedportfolioofassets.TheCapitalAssetPricingModel(CAPM)hasinformedusthatthemainingredie

8、ntinthepricingofasecurityistheassociationofthesecurityandthemarketportfoliosuchthatthecorrelationbetweenthesecurityandthemarketportfolio,i.e.thebeta,accountsforthepri