国际会计 International Accounting 知识点总结 第一章

Chapter 1 Financial Accounting in the Global Area，包含1.会计与国际会计的互动、2.财务会计与报告制度的分类、3.主要挑战

Chapter 1 Financial Accounting in the Global Area

• 1. Interaction between Accounting and Internationl Accounting
  • 10 Environmental Factors
    • 1.Nature of capital markets
      • Type of capital market
        • Equity-oriented market
          • The capital of companies most come from stock market.
        • Debt-oriented market
          • Companies depend on bank financing as their primary source of capital.
      • Financial statement
        • Equity-oriented Market Debt-oriented Market
        • Cosmetic level
          • Main target users are potential provider of capital so the conpany like to invest large resources in annual reports and other financial communications.
            • Conpany spend little resources on the productions of annual reports and corporate annual reports tend to be more sparten and matter-of-fact.
        • Substantiv level
          • Capital market can and do punish companies that report disappointing performance, an optimistic bias to reporting earnings.
            • A tendency to under report earnings for tax evasion.
    • 2.Type of reporting regimes
      • Dual set of rules
        • take an optimistic view to reporting earnings to investors, but understate earnings in tax reports to tax collector
      • Single set of rules
        • inflating earnings in financial reports comes at a high price in the form of a higher tax liability.
        • Companies have tendency to understate earnings.
    • 3.Type of business entity
      • Developed countries
        • exit large and complex conglomerates
        • financial reporting rules will be detailed and complex
      • Emerging economics
        • charaterized by small, simple business entities that are often family owned
        • simpler financial reporting rules
    • 4.Type of legal system
      • Code law system
        • Germany, France
        • Laws are all-embracing characterized such as mandating acceptable behavior.
        • Characteristics
          • Accounting tends to be prescriptive and procedural.
          • Accounting focuses on legal form.
          • Accounting standards and procedures are incorporated into national laws.
          • An emphasis on protecting creditors.
      • Common law system
        • U.S, Australia
        • Laws develop on a case-by-case basis, focuses on deterring undesirable behavior.
        • Characteristics
          • Accounting develops from experience and judgement.
          • Accounting tends to be flexible, adaptive and innovative.
          • Accounting focuses on economic substance.
          • Accounting rules are established by private sector professional organizations.
          • An emphasis on providing shareholders with decision-useful information.
    • 5.Level of enforcement
      • High enforcement levels
        • Accounting practices are largely in compliance with the requirements.
      • Low enforcement levels
        • Accounting practices are likely to exhibit very little compliance with regulations.
    • 6.Level of inflation
      • High inflation
        • Use inflation-adjusted models to provide more decision-relevant information.
      • Low inflation
        • Often use historical-cost model
    • 7.Political and economic ties
    • 8.Status of the accounting profession
      • Code law system
      • Common law system
    • 9.Existence of a conceptual framework
      • Definition
        • A coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribes the nature, function, and limits of financial accounting and financial statements.
      • Elements
        • 1. A statement of aims or objectives of financial accounting.
          • to provide useful informations for investors, creditors and potential individuals.
        • 2. Targeted users of financial statement.
        • 3. Financial accounting statements that ought to be issued.
        • 4. Qualities and characteristics of good financial accouting.
        • 5. Limitations of financial statements.
        • 6. Scope of applicability of conceptual framework.
        • 7. Definition of reporting entity.
        • 8. Definition and basis of recognizing financial statement elements.
        • 9. Measurement of financial statement elements and concept of capital maintenance.
        • Recognition and Measurement
    • 10.Quality of accounting education
      • Well Developed Countries
      • Less Developed Countries
  • Qualities Characteristics of Accounting Information
    • Primary
      • Relevance 相关性
        • Timeliness 时间轴
        • Predictive value 预测价值
        • Feedback value 反馈价值
      • Reliability 可靠性
        • Verifiability 可验证性
        • Representational faithfulness 如实反映
        • Neutrality 中立性/无偏见性
    • Secondary
      • Comparability 可比性
      • Consistency 一致性
  • Recognition and Measurement Criteria
    • Basic Assumptions
      • Economic entity
      • Going concern
      • Monetary unit
      • Periodicity
    • Principles
      • Historical cost
      • Revenue recognition
      • Matching
      • Full disclosure
    • Constraints
      • Cost benefit
      • Materiality
      • Industry practices
      • Conservatism
• 2. Classification of Financial Accounting and Reporting System
  • Benefits
    • Learn from same group
    • Help developing countries to find a model suitable from developted countries
    • Patterns help harmonization
    • Improve communication across groups
  • Classification
    • Based on relative importance attached to particular roles of accounting in society
      • Micro-user Oriented System
        • Capital Providers
      • Macro-user Oriented System
        • Government Agencies
          • Particular tax and economic planning agencies
    • Based on environmental variables
      • Nobe's classification of accounting systems
  • Theory
    • Muller, 1967
      • Patterns
        • Macro economic pattern 宏观
        • Micro economic pattern 微观
        • Independent discipline approach 独立
        • Uniform approach 完全一致
      • Problems
        • group 4 overlapping Germany
        • In group 3 Netherlands only
        • Not practical
    • Nobes, 1983
      • Hierarchy
        • Micro → Nonlegalistic 非律法主义的
        • Macro → Legalistic 尊重法律的
      • Feature
        • Consistent with Muller, 1967
        • 1983, Change over time
    • Doupnik and Salter, 1993
      • Hierarchy
        • UK, US, two big Groups
        • Germany, Japan, Independent Group
        • Belgium into Arabic Group
        • Colombia into European Group
      • Feature
        • More recent data
        • More countries
        • Support Nobe's classification
  • Classification Groups
    • Germany
      • Macro-user Oriented
      • Debt-Oriented
        • Capital: Banks
      • Code Law
    • US
      • Micro-user Oriented
      • Equity-Oriented
        • Capital: Stock Market
      • Common Law
        • Protect: Shareholders
• 3. Major Challenges
  • Global Harmonization
  • Financial Reporting in Emerging Economics
  • Social and Environmental Reporting
  • Financial Reporting in the High Technology Era