会计政策选择地概念框架【外文翻译】.doc

会计政策选择地概念框架【外文翻译】.doc

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1、外文文献翻译原文:Aconceptualframeworkofaccountingpolicychoice1.IntroductionPositivetheoriesofaccountingchoicemakeseveralempiricalpredictionsregardingmanagerialbehaviourinthepresenceoffinancialincentivesandaccountingchange.Ausefulimplicationoftheworkinthisareaisw

2、hetheraparticularaccountingmethod/rulehasrealeconomicconsequences,suchthatusersofaccountinginformation,whoareexposedtothenewaccountingrule,revaluethefirm’sstock.Theeconomicconsequencesofalternativeaccountingmethodshavebeentakentoincludenotonlytheimpactof

3、accountingchangeoncashflows,butalsotheimpactofaccountingchangeonpoliticalcosts,contractualarrangements,etc.(see,e.g.Ricks,1982).Muchoftheobservedempiricalregularitiesareconsistentwiththeory.Forexample,WattsandZimmerman(1978)makepredictionsregardingthelik

4、elihoodthatafirmwillpresentitsfinancialreportsinamannerthatwillensurethattheagencycostsamongmanagers,shareholdersandbondholdersareminimised.Inthiscase,onecanpredicttheattitudeofmanagerstowardsanaccountingstandardthatislikelytoadverselyaffectafirm’slevera

5、geanddebtcovenantarrangementswhenthefirmisalreadyhighlygeared.Thisstudyputsforwardaconceptualframeworkthatincorporatessimilartheoreticalissues,butfocusesprimarilyontheeconomicandfinancialconstraintsimposedbySSAP20,whichisconcernedwiththeaccountingtreatme

6、ntofforeignexchange(FX)differencesforUKfirms.Theconceptualframeworkhastwoimportantadvantages.Firstly,itputsforwardacomprehensiveframework,inwhichtheissuesthatarerelevantforaccountingchoiceareviewedonanoverallbasis.Thereishowevernoassumptionthatexistingth

7、eoriesarecompleteorthatthevariablesusedtotestsuchtheoriesareadequate.Secondly,theframeworkattemptstoironoutsomeoftheconflictingevidencefoundintheliterature.Forexample,theorypredictsthatthehigherthefirm’sleverageis,themorelikelyitisthatmanagerswillchoosei

8、ncome-increasingaccountingmethods,soastoreducetheriskofviolatingthedebtcovenants.However,managersarelikelytohavemoreinformationaboutthefirmthanoutsiders,andthisinturncanaffecttheirchoiceofaccountingmethods(see,e.g.Holthaus

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