国际财务报告准则(IFRS):投资者的利弊分析International Financial Reporting Standards (IFRS): Pros and Cons for Investors [2]
论文作者:meisishow论文属性:硕士毕业论文 dissertation登出时间:2014-06-27编辑:meisishow点击率:27266
论文字数:16523论文编号:org201406271116099404语种:英语 English地区:加拿大价格:免费论文
关键词:International accounting standards, IAS, IFRS, fair value accounting
摘要:会计在受到经济和政治力量。由此可见,市场和政治(由减少通信和信息处理成本)的融合使得财务报告准则和实践的融合几乎不可避免。但多数市场和政治力量在可预见的未来仍将是以当地的标准为主,所以目前还不清楚有多少融合在实际财务报告实践中(或应该)发生。此外,几乎没有一个评估好坏的解决理论或证据被建立,更不用说在国际上建立统一的会计。
might trigger. Consequently, the advantages and disadvantages of IFRS for investors (the specific topic of this lecture) are a matter of current conjecture. I shall try to shed some light on the topic but, as the saying goes, only time will tell.
1.1. Outline I begin with a description of IFRS and their
history, and warn that there is little settled theory or evidence on which to build an assessment of the advantages and disadvantages of uniform accounting rules within a country, let alone internationally. The pros and cons of IFRS therefore are somewhat conjectural, the unbridled enthusiasm of allegedly altruistic proponents notwithstanding. I then outline my broad framework for addressing the issues, which is economic and political. On the “pro” side of the ledger, I conclude that extraordinary success has been achieved in developing a comprehensive set of “high quality” standards and in persuading almost 100 countries to adopt them. On the “con” side, a deep concern is that the differences in financial reporting quality that are inevitable among countries have been pushed down to the level of implementation, and now will be concealed by a veneer of uniformity. The notion that uniform standards alone will produce uniform financial reporting seems naïve, if only because it ignores deep-rooted political and economic factors that influence the incentives of financial statement preparers and that inevitably shape actual financial reporting practice. I envisage problems with the current fascination of the IASB (and the FASB) for “fair value accounting.” In addition, I express several longer run concerns.
2. BACKGROUND 2.1. What are IFRS? IFRS are accounting rules (“standards”) issued by the International Accounting Standards Board (IASB), an independent organization based in London, UK. They
purport to be a set of rules that ideally would apply equally to financial reporting by public companies worldwide. Between 1973 and 2000, international standards were issued by the IASB’s predecessor organization, the International Accounting Standards Committee (IASC), a body established in 1973 by the professional accountancy bodies in Australia, Canada, France, Germany, Japan, Mexico, Netherlands, United Kingdom and Ireland, and the United States. During that period, the IASC’s rules were described as "International Accounting Standards" (IAS). Since April 2001, this rule-making function has been taken over by a newly-reconstituted IASB. 1 The IASB describes its rules under the new label "International Financial Reporting Standards" (IFRS), though it continues to recognize (accept as legitimate) the prior rules (IAS) issued by the old standard-setter (IASC).2 The IASB is better-funded, better-staffed and more independent than its predecessor, the IASC. Nevertheless, there has been substantial continuity across time in its viewpoint and in its accounting standards.3
2.2. Brave New World I need to start by confessing substantial ignorance on the desirability of mandating uniform accounting, and to caution that as a consequence much of what I have to say is speculative. There simply is not much hard evidence or resolved theory to help. This was an unsettled issue when I was an accounting student, over forty years ago. A successful push for mandating uniformity at a national level occurred around the turn of the twentieth century. National uniformity was a central them
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