會(huì)計(jì)政策選擇的概念框架【外文翻譯】

1、1外文文獻(xiàn)翻譯外文文獻(xiàn)翻譯原文：Aconceptualframewkofaccountingpolicychoice1.IntroductionPositivetheiesofaccountingchoicemakeseveralempiricalpredictionsregardingmanagerialbehaviourinthepresenceoffinancialincentivesaccountingchange.Ausefu

2、limplicationofthewkinthisareaiswhetheraparticularaccountingmethodrulehasrealeconomicconsequencessuchthatusersofaccountinginfmationwhoareexposedtothenewaccountingrulerevaluethefirm’sstock.Theeconomicconsequencesofalternat

3、iveaccountingmethodshavebeentakentoincludenotonlytheimpactofaccountingchangeoncashflowsbutalsotheimpactofaccountingchangeonpoliticalcostscontractualarrangementsetc.(seee.g.Ricks1982).Muchoftheobservedempiricalregularitie

4、sareconsistentwiththey.FexampleWattsZimmerman(1978)makepredictionsregardingthelikelihoodthatafirmwillpresentitsfinancialreptsinamannerthatwillensurethattheagencycostsamongmanagersshareholdersbondholdersareminimised.Inthi

5、scaseonecanpredicttheattitudeofmanagerstowardsanaccountingstardthatislikelytoadverselyaffectafirm’sleveragedebtcovenantarrangementswhenthefirmisalreadyhighlygeared.Thisstudyputsfwardaconceptualframewkthatincpatessimilart

6、heeticalissuesbutfocusesprimarilyontheeconomicfinancialconstraintsimposedbySSAP20whichisconcernedwiththeaccountingtreatmentoffeignexchange(FX)differencesfUKfirms.Theconceptualframewkhastwoimptantadvantages.Firstlyitputsf

7、wardacomprehensiveframewkinwhichtheissuesthatarerelevantfaccountingchoiceareviewedonanoverallbasis.Thereishowevernoassumptionthatexistingtheiesarecompletethatthevariablesusedtotestsuchtheiesareadequate.Secondlytheframewk

8、attemptsto3(2)itishypothesisedthattheeconomicconsequencesofaccountingchangecouldbemitigatedbyconsciouslytimingtheaccountingchangetosuittheinvestmentdecisionsofthefirm.Sotheconceptualframewkisimptantinthissettingasitcanpr

9、ovideabasisftheanalysisoftheUKstockmarketresponsetoSSAP20.Alternativelymanagerscanresttoaccountingmethodssuchassmoothingriskmanagementtomitigatetheeffectsofaccountingpolicychangeonthefirm’searningsinvestmentdecisions.Bot

10、haspects(above)haveimptantimplicationsfthelocationoftranslationdifferencesinthereptedfinancialstatementsthetimingofadoptionofSSAP20.Thedebateregardingthelocationoftranslationdifferencesthatariseonconsolidationofthefinanc

11、ialresultsoffeignsubsidiarieshasbeenverycontroversial.BeaverWolfson(1982)amongothershavearguedthattheimpactofallFXratefluctuationsoncompanyaccountsshouldbereptedintheincomestatement.AlsoWojciechowski(1982)CallaghanBazaz(

12、1992)observethatthetranslationdifferencesareinthenatureofincomethusshouldbereptedintheincomestatement[1].IncontrastLipe(1986)Garlickietal.(1987)SooSoo(1994)arguethatthetranslationdifferencesintroducevolatilityintheincome

13、statementsuggestthattheyshouldbereptedseparatelyrecognisedinthereserves.FollowingtheUSexperiencetherecognitionoftranslationgainslossesinthePBazazSenteney1995).Astranslationdifferencesmaynotbedirectlyassociatedwiththebusi

14、nessstrategiesperfmanceofthefeignsubsidiariesoftheparentfirmtheirrecognitionintheconsolidatedincomestatementmightcreatesomedisttioninturnaffectthequalityofanalysts’earningsfecasts(seee.g.AyresRodgers1994).SSAP20considers

15、itmeappropriatetorecognisetranslationdifferencesinthebalancesheet.AnassessmentofthefinancialacteristicsoftheadoptersofSSAP20theaccountingmeasuresthatdeterminedthetimingoftheiradoptionislikelytogenerateseveralinterpretati