未来的会计和财务报告第二部分彩色的方法文献翻译.docx

未来的会计和财务报告第二部分彩色的方法文献翻译.docx

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未来的会计和财务报告第二部分彩色的方法文献翻译

中文3160字

本科毕业论文（设计）

外文翻译

题目全面收益理论的发展研究

专业会计学

外文题目ThefutureofAccountingandFinancialReporting,PartⅡ:

TheColorizedApproach

外文出处AccountingHorision1996（6）

外文作者StevenM.H.Wallman

原文：

ThefutureofAccountingandFinancialReportingPartⅡ:

TheColorizedApproach

InthissequeltoanearlierCommentaryontheFutureofAccountingandFinancial

Reporting,theauthorfirstdiscussestheimportanceofaccountingandfinancialreportingto

（1）asset,capitalandinvestmentallocation,

（2）contractingand"exposfsettlingup,"and（3）corporatestewardshipandmonitoring.Hethenreviewsseveralreasonsfortheconcernthataccountingandfinancialreportingarebecomingincreasinglylessuseful,includingchangingconceptsofthetraditional'Tirm,"recognitionandmeasurementdifficulties,issuesrelatedtothetimelinessoffinancialreports,andlimitationsassociatedwithcurrentinformationdistributionchannels.Arefinementtothecurrent"blackandwhite"accountingparadigmissuggestedtobegintoaddresscertainoftheseconcerns,andtoquickenthedebateontheneedandbenefitsforchange.Bydecreasingtheemphasiscurrentlydevotedtodeterminingwhetheraparticularitemshouldberecognized,andfocusing

greaterattentiononwhethertheitemisrelevantandthedegreeofattestationthatmaybeassociatedwithanyrelateddisclosure,amorefinelytextured"colorized"accountingmodelmightbedeveloped.Thegoalofsuchasystemwouldbetoprovidemoreusefulinformationinconnectionwithaccountingandfinancialreporting,whilemaintainingthecurrentcoredisclosures.Theauthorprovidesexamplesofhowthe"colorized"modelmightoperate,discusseslimitationsofthemodel,andsuggeststhatgreaterattentionbedevotedtorefiningthecurrentaccountingparadigmtomeettheneedsofusersofaccountingandfinancialinformationbetter,regardlessofwhethersucha"colorized"modeliseveradopted.

TheImportanceOfAccountingAndFinancialReporting

Fromthemostgeneralizedperspective,thepurposeofaccountingandfinancialreportingistoprovideinformationthatisusefultoinvestors,creditors,monitorsandothers—increasinglyincludingemployeesandmajorsuppliersandcustomers—^inmakinginvestment,credit,monitoringandotherdecisions.Thisgeneralgoalmaybefurtherdefinedandanalyzedbydescribingthreespecificanddistinctpurposesandfunctionsoffinancialreporting:

（1）asset,capitalandinvestmentallocation;

（2）"contracting"and"expostsettling-up";and（3）corporatestewardshipandmonitoring.

Determining"What"toValue:

RecognitionandMeasurementIssues

Wealsoshouldquestionexactly"what"itiswearemeasuringandreporting.Asdiscussedabove,historically,theassetsandliabilitiesusedtoproducewealthwererecognizedinfinancialstatementsatcostandwere"hard"ortangible—likeplantandequipment.However,theshifttoaknowledge-basedeconomyhascreatedorfocusedincreasedattentiononentirelydifferentcategoriesofassetssuchasbrandnamesandother"soft"assetspreviouslymentioned.

Withcertainlimitedexceptions,suchasthepurchaseofabrandname,these"soft"assetsarenotrecognizedinthefinancialstatements.Theprimaryobstaclesrelatetovaluationdifficulties,theinherentuncertaintyofanyvalueultimatelydetermined,andtheresultingpotentialforfraud.Asaresultoftheseconcerns,weattributenovalueinfinancialreportstosomethingasobviouslysignificantasDisney'sMickeyMouse.Thiscannotbethecorrectresultforthelong-termutilityoffinancialreporting,particularlygiventheincreasingimportanceoffirmswith"soft"assets.

Somesuggestthatthevaluesoftheseassetsareultimatelyreflected,implicitly,inthestatementofcashfiowsorinearnings,andthereforetheyneednotberefiectedelsewhere.Unfortunately,however,becauseitwouldmakelifeveryeasyifsuchananswerwereright,thesamecanbesaidforallotherassetsonthebalancesheet.Ourtasktheniseithertoimprovethecredibilityandreliabilityofsoftassetvaluations,ortofindothercreativesolutionstotheproblem—nottoignorethisfastgrowingsegmentofoureconomy.

"When"toReport?

TheTimelinessofFinancialReporting

Therapidaccelerationofeventsthatmaysignificantlyaffectsharevalueshasstartedtomakeoursystemofannualauditsandquarterlyreportsobsolete.Today’sannualandevenquarterlyreports—relyingonrecognizeditemsasthecoreofthereports—donotcaptureandcommunicatematerialdevelopmentsinsufficienttimetomeetthemarketsinformationneeds.Productcycleshaveshortened,riskmanagementpracticeshaveimprovedandaremoreprevalent,andproductsandwholecompaniesbecomeobsoletemuchmorequicklynowthaneverbefore.Itishardtoobtainagoodpictureofan3hingthatismovingsoquicklyandchangingsooftenwhenonlysnapshotsaretakenatrelativelylongintervals.AsImentionedlastyear,Iamnotnowsuggestingasystemofmonthly,weekly,ordailyauditsandreportfilingswiththeCommission.Iamsuggesting,though,thatovertimewewillneedtodevelopasystemthatfillstheneedfortimely—andultimatelyrealtime—financialinformation.Forwardlookinginformationwillobviouslybeanincreasinglycriticalcomponentofthedisclosures.

ADifferentPerspective:

ColorVS.BlackAndWhite

Backgroundbedividedintofourbroadsegments.Atthefirstlevelwehavethefinancialstatementsthemselves,whichfocusonrecognizeditemsthatpertaintotheresources（assets）ofanentity,theclaimstosuchresources（liabilitiesandequity）andtheresultsofoperations.Withinthissystem,therecognitionofitemsinthefinancialstatementsassumesprimarystanding.Toberecognizedinfinancialstatementsanitemmustmeeteachoffourcriteria:

•First,theitemmustmeetthedefinitionofanelementofthosefinancialstatements:

Itmustbeanasset,liabilityorcomponentofequity;

•Second,theitemmustbemeasurahle:

Itmustbesusceptibletoquantificationin

monetaryunitswithsufficientreliability;

•Third,theitemmustberelevant:

Itmustmakeadifferencetotheinvestmentor

creditdecision;and

•Finally,theitemmustbereliable:

Itmusthaverepresentationalfaithfulness,be

verifiableandneutral.

Itisgenerallyexpectedthatthemostusefulinformationaboutassets,liabilities,revenues,expensesandotheritemsoffinancialstatementswouldberecognized.Thereisalsoanexpectationthatsuchinformationwouldhaveutilityinmakingcapitalallocationdecisions.Thatis,itcanbeusedtohelppredictfuturecashflowsandiscomparableacrossentities.Inaddition,becausesuchinformationisviewedasmorereliableandisaudited,itisviewedashavinggreaterutilityincontractingandmonitoring.Thesecondsubsetoffinancialreportingconsistsofthenotestothefinancialstatements.Thenotesaredesignedtoexplaininformationinthefinancialstatements.Thefinaltwocategoriesaresupplementaryinformation（suchasinformationrelatedtochangingprices）andotherinformationsuppliedbyacompany（suchasmanagement'sdiscussionandanalysis）.Thisinformationaddstothefinancialstatementsorthenotes.Itoftenincludesinformationthatmayberelevant

butthatdoesnotmeetallcriteriaforrecognition.Itisfrequentlynotsubjecttothird

partyattestation.

Thecurrentaccountingandfinancialreportingmodelworksreasonablywellformanyoftheitemsthatarerecognizedwithinfinancialstatements.However,themodelincreasinglyissubjecttocriticism.First,potentiallyrelevantitemsareomittedbecausetheydonotmeetrecognitioncriteria（usuallyduetoreliabilityconcerns）.Second,itemsthatarelessandlessusefulduetovaluationorotherconcernsareneverthelessincluded.Finally,itisnotalwaysclearwhysoirieinformationisincludedandotherinformationisexcludedfromfinancialreports.Theseconcernsareexacerbatedbythedevelopmentsinthegeneralbusinessenvironmentpreviouslydiscussed.

TheAlternativeModel

Inresponsetotheseconcerns,Ibelieveitistimetorefineourperspectiveonfinancialreporting.Weneed,inparticular,tomoveawayfromamodelthatprimarilyreliesonblackandwhiterecognitioninthefinancialstatements.Weneedtomovetowardsamodelwherefinancialstatementsandrelateddisclosuresareviewedmoreasdifferentlayersofinformation—justasafinelytexturedcolorpicturecanprovidemoreinformationthanablackandwhiterepresentation.

ThemodelthatIamabouttodescribemaybeviewedasrefiningthecurrentsystembyaddingnewsetsorlayersofinformation.Italsorefocusesouranalysistode-emphasizerecognitionandtowardsprovidinggreaterdisclosureofusefulinformation.

Inthismodel,theprimaryfocusisonprovidingrelevantinformation,withspecificationofboththeitemstobereportedandtheformandlevelofassuranceoftheseitems.Themostrelevantandreliablymeasureditemswouldrepresentthecoreofthefinancialreports—theclearblackandwhite,withnoshadesofgrayorcolor—similartotherecognizedcontentofthefinancialstatementitemsintodaysmodel.Successiveouterlayersofthefinancialreportingpicturewouldconsistofinformationthatmeetsome—butnotall—oftherequirementsofrecognition,orthatarenotassusceptibletoverificationprocedures.

Underthisapproach,insteadofstartingwiththequestionofwhetheranitemmustberecognizedinthefinancialstatements,thefirstquestionwouldbewhetheranitem

shouldbepartofthefirm'sfinancialdisclosure,withaprogressionthentoadiscussion

oftheappropriatelayerinwhichtheitemshouldbereported.Suchaframework—wherethediffe