关于会计的英文文献原文

外文文献及翻译题目:The Important Of Financial Risk 题目: 财务风险重要性分析The Important Of Financial RiskAbstract：This paper examines the determinants of equity price risk for a large sample of non-financial corporations in the United States from 1964 to 2008. We estimate both structural and reduced form models to examine the endogenous nature of corporate financial characteristics such as total debt, debt maturity, cash holdings, and dividend policy. We find that the observed levels of equity price risk are explained primarily by operating and asset characteristics such as firm age, size, asset tangibility, as well as operating cash flow levels and volatility. In contrast, implied measures of financial risk are generally low and more stable than debt-to-equity ratios. Our measures of financial risk have declined over the last 30 years even as measures of equity volatility (e.g. idiosyncratic risk) have tended to increase. Consequently, documented trends in equity price risk are more than fully accounted for by trends in the riskiness of firms’ assets. Taken together, the results suggest that the typical U.S. firm substantially reduces financial risk by carefully managing financial policies. As a result, residual financial risk now appears negligible relative to underlying economic risk for a typical non-financial firm.Keywords：Capital structure financial risk risk management corporate financeIntroductionThe financial crisis of 2008 has brought significant attention to the effects of financial leverage. There is no doubt that the high levels of debt financing by financial institutions and households significantly contributed to the crisis. Indeed, evidence indicates that excessive leverage orchestrated by major global banks (e.g., through the mortgage lending and collateralized debt obligations) and the so-called “shadow banking system” may be the underlying cause of the recent economic and financial dislocation. Less obvious is the role of financial leverage among nonfinancial firms. To date, problems in the U.S. non-financial sector have been minor compared to the distress in the financial sector despite the seizing of capital markets during the crisis. For example, non-financial bankruptcies have been limited given that the economic decline is the largest since the great depression of the 1930s. In fact, bankruptcy filings of non-financial firms have occurred mostly in U.S. industries (e.g., automotive manufacturing, newspapers, and real estate) that faced fundamental economic pressures prior to the financial crisis. This surprising fact begs the question,。

会计准则外文文献及翻译-财务会计专业(含：英文原文及中文译文)文献出处：Buschhüter M, Striegel A. IAS 37 – Provisions, Contingent Liabilities and Contingent Assets[M]// Kommentar Internationale Rechnungslegung IFRS. Gabler, 2011:955-974.英文原文Accounting Standard (AS) 37Contingent Liabilities and Contingent AssetsBuschhüter M, Striegel AThis International Accounting Standard was approved by the IASC Board in July 1998 and became effective for financial statements covering periods beginning on or after 1 July 1999.Introduction1. IAS 37 prescribes the accounting and disclosure for all provisions, contingent liabilities and contingent assets, except:(a) those resulting from financial instruments that are carried at fair value;(b) those resulting from executory contracts, except where the contract is onerous. Executory contracts are contracts under which neither party has performed any of its obligations or both parties have partially performed their obligations to an equal extent;(c) those arising in insurance enterprises from contracts with policyholders;(d) those covered by another International Accounting Standard. Provisions2. The Standard defines provisions as liabilities of uncertain timing or amount. A provision should be recognised when, and only when:(a) an enterprise has a present obligation (legal or constructive) as a result of a past event; (b) it is probable (i.e. more likely than not) that an outflow of resources embodying economic benefits will be required to settle the obligation;(c) a reliable estimate can be made of the amount of the obligation. The Standard notes that it is only in extremely rare cases that a reliable estimate will not be possible.3. The Standard defines a constructive obligation as an obligation that derives from an enterprise's actions where:(a) by an established pattern of past practice, published policies or a sufficiently specific current statement, the enterprise has indicated to other parties that it will accept certain responsibilities; (b) as a result, the enterprise has created a valid expectation on the part of those other parties that it will discharge those responsibilities.4. In rare cases, for example in a law suit, it may not be clear whether an enterprise has a present obligation. In these cases, a past event is deemed to give rise to a present obligation if, taking account of all available evidence, it is more likely than not that a present obligation exists at thebalance sheet date. An enterprise recognises a provision for that present obligation if the other recognition criteria described above are met. If it is more likely than not that no present obligation exists, the enterprise discloses a contingent liability, unless the possibility of an outflow of resources embodying economic benefits is remote.5. The amount recognized as a provision should be the best estimate of the expenditu required to settle the present obligation at the balance sheet date, in other words, the amount that an enterprise would rationally pay to settle the obligation at the balance sheet date or to transfer it to a third party at that time.6. The Standard requires that an enterprise should, in measuring a provision: (a) take risks and uncertainties into account. However, uncertainty does not justify the creation of excessive provisions or a deliberate overstatement of liabilities;(b) discount the provisions, where the effect of the time value of money is material, using a pre-tax discount rate (or rates) that reflect(s) current market assessments of the time value of money and those risks specific to the liability that have not been reflected in the best estimate of the expenditure. Where discounting is used, the increase in the provision due to the passage of time is recognised as an interest expense;(c) take future events, such as changes in the law and technological changes, into account where there is sufficient objective evidence thatthey will occur; and(d) not take gains from the expected disposal of assets into account, even if the expected disposal is closely linked to the event giving rise to the provision.7. An enterprise may expect reimbursement of some or all of the expenditure required to settle a provision (for example, through insurance contracts, indemnity clauses or suppliers' warranties). An enterprise should:(a) recognise a reimbursement when, and only when, it is virtually certain that reimbursement will be received if the enterprise settles the obligation. The amount recognised for the reimbursement should not exceed the amount of the provision; and(b) recognise the reimbursement as a separate asset. In the income statement, the expense relating to a provision may be presented net of the amount recognised for a reimbursement. 8. Provisions should be reviewed at each balance sheet date and adjusted reflect thecurrent best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provisioshould be reversed.9. A provision should be used only for expenditures for which the provision was originally recognised.Provisions - Specific Applications10. The Standard explains how the general recognition and measurement requirements for provisions should be applied in three specific cases: future operating losses; onerous contracts; and restructurings. Contingent Liabilities11. An enterprise should not recognise a contingent liability. , unless the12. A contingent liability is disclosed, as required by paragraph 86possibility of an outflow of resources embodying economic benefits is remote.13. Where an enterprise is jointly and severally liable for an obligation, the part of tobligation that is expected to be met by other parties is treated as a contingentThe enterprise recognises a provision for the part of the obligation for which an outflow of resources embodying economic benefits is probable, except in the extremely rare circumstances where no reliable estimate can be made.14. Contingent liabilities may develop in a way not initially expected. Therefore, theare assessed continually to determine whether an outflow of resources embodying probable. If it becomes probable that an outflow of economic benefits has become future economic benefits will be required for an item previously dealt with as a contingent liability, a provision is recognised in the financial statements of the period in which the change in probability occurs (except in the extremely rare circumstances where no reliable estimate can be made).Contingent Assets15. An enterprise should not recognise a contingent asset.16. Contingent assets usually arise from unplanned or other unexpected events that give rise to the possibility of an inflow of economic benefits to the enterprise. An example is a claim that an enterprise is pursuing through legal processes, where the outcome is uncertain. 17. Contingent assets are not recognised in financial statements since this may result in the recognition of income that may never be realised. However, when the realisation of income is virtually certain, then the related asset is not a contingent asset and its recognition is appropriate. 18. A contingent asset is disclosed, as required by paragraph 89 economic benefits is probable.19. Contingent assets are assessed continually to ensure that developments are appropriately reflected in the financial statements. If it has become virtually certain that an inflow of economic benefits will arise, the asset and the related income are recognised in the financial statements of the period in which the change occurs. If an inflow of economic benefits has become probable, an enterprise discloses the contingent asset.Measurement20. The amount recognised as a provision should be the best estimate of the expenditure required to settle the present obligation at the balance sheet date.21. The best estimate of the expenditure required to settle the present obligation is the amount that an enterprise would rationally pay to settle the obligation at the balance sheet date or to transfer it to a third party at that time. It will often be impossible or prohibitively expensive to settle or transfer an obligation at the balance sheet date. However, the estimate of the amount that an enterprise would rationally pay to settle or transfer the obligation gives the best estimate of the expenditure required to settle the present obligation at the balance sheet date. 22. The estimates of outcome and financial effect are determined by the judgement of the management of the enterprise, supplemented by experience of similar transactions and, in some cases, reports from independent experts. The evidence considered23. Uncertainties surrounding the amount to be recognised as a provision are dealt with by various means according to the circumstances. Where the provision being measured involves a large population of items, the obligation is estimated by weighting all possible outcomes by their associated probabilities. The name for thistatistical method of estimation is 'expected value'. The provision will therefore be different depending on whether the probability of a loss of a given amount is, for example, 60 per cent or 90 per cent. Where there is a continuous range of possible outcomes, and each point in that range is as likely as any other, the mid-point of thrange is used. 24. Where a single obligation is beingmeasured, the individual most likely outcome may be the best estimate of the liability. However, even in such a case, the enterprise considers other possible outcomes. Where other possible outcomes are either mostly higher or mostly lower than the most likely outcome, the best estimate will be a higher or lower amount. For example, if an enterprise has to rectify a serious fault in a major plant that it has constructed for a customer, the individual most likely outcome may be for the repair to succeed at the first attempt at a cost of1,000, but a provision for a larger amount is made if there is a significant chance that further attempts will be necessary.25. The provision is measured before tax, as the tax consequences of the provision, , Income Taxes. and changes in it, are dealt with under IAS 12,Income Taxes.Risks and Uncertainties26. The risks and uncertainties that inevitably surround many events and the best estimate of a circumstances should be taken into account in reachin the best estmeate of a provision.27. Risk describes variability of outcome. A risk adjustment may increase the amount at which a liability is measured. Caution is needed in making judgements under conditions of uncertainty, so that income or assets are not overstated and expenses or liabilities are not understated. However, uncertainty does not justify the creation of excessive provisions or adeliberate overstatement of liabilities. For example, if the projected costs of a particularly adverse outcome are estimated on a prudent basis, that outcome is not then deliberately treated as more probable than is realistically the case. Care is needed to avoid duplicating adjustments for risk and uncertainty with consequent overstatement of a provision. Present Value28. Where the effect of the time value of money is material, the amount ofa provision should be the present value of the expenditures expected to be required to settle the obligation.29. The discount rate (or rates) should be a pre-tax rate (or rates) that reflect(s) current market assessments of the time value of money and the risks specific to the liability. The discount rate(s) should not reflect risks for which future cash flow estimates have been adjusted. Future Events 30. Future events that may affect the amount required to settle an obligation should be reflected in the amount of a provision where there is sufficient objective evidence that they will occur.31. Expected future events may be particularly important in measuring provisions. For example, an enterprise may believe that the cost of cleaning up a site at the end of its life will be reduced by future changes in technology. The amount recognised reflects a reasonable expectation of technically qualified, objective observers, taking account of all available evidence as to the technology that will be available at the time of theclean-up. Thus it is appropriate to include, for example, expected cost reductions associated with increased experience in applying existing technology or the expected cost of applying existing technology to a larger or more complex clean-up operation than has previously been carried out. However, an enterprise does not anticipate the new technology for cleaning up unless it is supported by development of a completel sufficient objective evidence.32. The effect of possible new legislation is taken into consideration in measuring an existing obligation when sufficient objective evidence exists that the legislation is virtually certain to beenacted. The variety of circumstances that arise in practice makes it impossible to specify a single event that will provide sufficient, objective evidence in every case. Evidence is required both of what legislation will demand and of whether it is virtually certain to be enacted and implemented in due course. In many cases sufficient objective evidence will not exist until the new legislation is enacted.Expected Disposal of Assets33. Gains from the expected disposal of assets should not be taken into account in measuring a provision.34. Gains on the expected disposal of assets are not taken into account in measuring a provision, even if the expected disposal is closely linked to the event giving rise to the provision. Instead, an enterprise recognisesgains on expected disposals of assets at the time specified by the International Accounting Standard dealing with the assets concerned. Reimbursements35. Where some or all of the expenditure required to settle a provision is expected to be reimbursed by another party, the reimbursement should be recognised when, and only when, it is virtually certain that reimbursement will be received if the enterprise settles the obligation. The reimbursement should be treated as a separate asset. The amount recognised for the reimbursement should not exceed the amount of the provision.36. In the income statement, the expense relating to a provision may be presented net of the amount recognised for a reimbursement.37. Sometimes, an enterprise is able to look to another party to pay part or all of the expenditure required to settle a provision (for example, through insurance contracts, indemnity clauses or suppliers' warranties). The other party may either reimburse amounts paid by the enterprise or pay the amounts directly.38. In most cases the enterprise will remain liable for the whole of the amount in question so that the enterprise would have to settle the full amount if the third party failed to pay for any reason. In this situation, a provision is recognised for the full amount of the liability, and a separate asset for the expected reimbursement is recognised when it is virtuallycertain that reimbursement will be received if the enterprise settles the liability.39. In some cases, the enterprise will not be liable for the costs in question if the third party fails to pay. In such a case the enterprise has no liability for those costs and they are not included in the provision.40. As noted in paragraph 29,severally liable is a contingent liability to the extent that it is expected that the obligation will be settled by the other parties.Changes in Provisions41. Provisions should be reviewed at each balance sheet date and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision should be reversed.42. Where discounting is used, the carrying amount of a provision increases in each period to reflect the passage of time. This increase is recognised as borrowing cost.Use of Provisions43. A provision should be used only for expenditures for which the provision was originally recognised.44. Only expenditures that relate to the original provision are set against it. Setting expenditures against a provision that was originally recognised for another purpose would conceal the impact of two different events.Future Operating Losses45. Provisions should not be recognised for future operating losses.46. Future operating losses do not meet the definition of a liability in paragraph 10.the general recognition criteria set out for provisions in paragraph 1447. An expectation of future operating losses is an indication that certain assets of the operation may be impaired. An enterprise tests these assets for impairment under IAS 36, Impairment of Assets.Onerous Contracts48. If an enterprise has a contract that is onerous, the present obligation under the contract should be recognised and measured as a provision. 49. Many contracts (for example, some routine purchase orders) can be cancelled without paying compensation to the other party, and therefore there is no obligation. Other contracts establish both rights and obligations for each of the contracting parties. Where events make such a contract onerous, the contract falls within the scope of this Standard and a liability exists which is recognised. Executory contracts that are not onerous fall outside the scope of this Standard. 50. This Standard defines an onerous contract as a contract in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The unavoidable costs under a contract reflect the least net cost of exiting from the contract, which is the lower ofthe cost of fulfilling it and any compensation or penalties arising from failure to fulfil it.51. Before a separate provision for an onerous contract is established, an enterprise recognises any impairment loss that has occurred on assets dedicated to that contract(see IAS 36, Impairment of Assets). Restructuring52. The following are examples of events that may fall under the definition of restructuring: (a) sale or termination of a line of business; (b) the closure of business locations in a country or region or the relocation of business activities from one country or region to another; (c) changes in management structure, for example, eliminating a layer of management; (d) fundamental reorganisations that have a material effect on the nature and focus of the enterprise's operations.53. A provision for restructuring costs is recognised only when the general recognition are met. Paragraphs 72-83 set out how criteria for provisions set out in paragraph 14the general recognition criteria apply to restructurings.54. A constructive obligation to restructure arises only when an enterprise:(a) has a detailed formal plan for the restructuring identifying at least: (i) the business or part of a business concerned;(ii) the principal locations affected;(iii) the location, function, and approximate number of employees whowill be compensated for terminating their services;(iv) the expenditures that will be undertaken;(v) when the plan will be implemented;(b) has raised a valid expectation in those affected that it will carry out the restructuring by starting to implement that plan or announcing its main features to those affected by it. . Evidence that an enterprise has started to implement a restructuring plan would be provided, 55for example, by dismantling plant or selling assets or by the public announcement of the main features of the plan. A public announcement of a detailed plan to restructure constitutes a constructive obligation to restructure only if it is made in such a way and in sufficient detail (i.e. setting out the main features of the plan) that it gives rise to valid expectations in other parties such as customers, suppliers and employees (or their representatives) that the enterprise will carry out the restructuring.56. For a plan to be sufficient to give rise to a constructive obligation when communicated to those affected by it, its implementation needs to be planned to begin as soon as possible and to be completed in a timeframe that makes significant changes to the plan unlikely. If it is expected that there will be a long delay before the restructuring begins or that the restructuring will take an unreasonably long time, it is unlikely that the plan will raise a valid expectation on the part of others that theenterprise is at present committed to restructuring, because the timeframe allows opportunities for the enterprise to change its plans.57. A management or board decision to restructure taken before the balance sheet date does not give rise to a constructive obligation at the balance sheet date unless the enterprise has, before the balance sheet date:(a) started to implement the restructuring plan;(b) announced the main features of the restructuring plan to those affected by it in a sufficiently specific manner to raise a valid expectation in them that the enterprise will carry out the restructuring. In some cases, an enterprise starts to implement a restructuring plan, or announces its main features to those affected, only after the balance sheet date. Disclosure may be , Events After the Balance Sheet Date, if the restructuring is of required under IAS 10 such importance that its non-disclosure would affect the ability of the users of the financial statements to make proper evaluations and decisions.58. Although a constructive obligation is not created solely by a management decision, an obligation may result from other earlier events together with such a decision. For example, negotiations with employee representatives for termination payments, or with purchasers for the sale of an operation, may have been concluded subject only to board approval. Once that approval has been obtained and communicated to the other parties, the enterprise has a constructive obligation to restructure, if theconditions of paragraph 72 are met.. 59. In some countries, the ultimate authority is vested in a board whose membership gement (e.g. employees) includes representatives of interests other than those of managment.or notification to such representatives may be necessary before the board decision is taken. Because a decision by such a board involves communication to these representatives, it may result in a constructive obligation to restructure.60. No obligation arises for the sale of an operation until the enterprise is committed to the sale, i.e. there is a binding sale agreement.61. Even when an enterprise has taken a decision to sell an operation and announced that decision publicly, it cannot be committed to the sale until a purchaser has been identified and there is a binding sale agreement. Until there is a binding sale agreement, the enterprise will be able to change its mind and indeed will have to take another course of action if a purchaser cannot be found on acceptable terms. When the sale of an operation is envisaged as part of a restructuring, the assets of the operation , Impairment of Assets. When a sale is only are reviewed for impairme-ent under IAS 36part of a restructuring, a constructive obligation can arise for the other parts of the restructuring before a binding sale agreement exists.62. A restructuring provision should include only the direct expenditures arising form the restrict-uring,which are those that are both:(a) necessarily entailed by the restructuring; and(b) not associated with the ongoing activities of the enterprise.63. A restructuring provision does not include such costs as:(a) retraining or relocating continuing staff;(b) marketing; or(c) investment in new systems and distribution networks.These expenditures relate to the future conduct of the business and are not liabilities for restructuring at the balance sheet date. Such expenditures are recognised on the same basis as if they arose independently of a restructuring.64. Identifiable future operating losses up to the date of a restructuring are not included in a provision, unless they relate to an onerous contract as defined in paragraph 10. , gains on the expected disposal of assets are not taken65. As required by paragraph 51into account in measuring a restructuring provision, even if the sale of assets is envisaged as part of the restructuring.Disclosure66. For each class of provision, an enterprise should disclose:(a) the carrying amount at the beginning and end of the period;(b) additional provisions made in the period, including increases toexisting provisions; (c) amounts used (i.e. incurred and charged against the provision) during the period; (d) unused amounts reversed during the period; and(e) the increase during the period in the discounted amount arising from the passage of time and the effect of any change in the discount rate. Comparative information is not required67. An enterprise should disclose the following for each class of provision:(a) a brief description of the nature of the obligation and the expected timing of any resulting outflows of economic benefits;(b) an indication of the uncertainties about the amount or timing of those outflows. Where necessary to provide adequate information, an enterprise should disclose the major assumptions made concerning future events, as addressed in paragraph 48(c) the amount of any expected reimbursement, stating the amount of any asset that has been recognised for that expected reimbursement.68. Unless the possibility of any outflow in settlement is remote, an enterprise should disclose for each class of contingent liability at the balance sheet date a brief description of the nature of the contingent liability and, where practicable:;(a) an estimate of its financial effect, measured under paragraphs 36(b) an indication of the uncertainties relating to the amount or timing of any outflow; (c) the possibility of any reimbursement.69. In determining which provisions or contingent liabilities may be aggregated to form a class, it is necessary to consider whether the nature of the items is sufficiently similar for a single statement about them to fulfil the requirements of paragraphs 85(a)and (b) and 86(a) and (b). Thus, it may be appropriate to treat as a single class of provision amounts relating to warranties of different products, but it would not be appropriate to treat as a single class amounts relating to normal warranties and amounts that are subject to legal proceedings.70. Where a provision and a contingent liability arise from the same set of -86 in a circumstances, an enterprise makes the disclosures required by paragraphs 84 that shows the link between the provision and the contingent liability.71. Where an inflow of economic benefits is probable, an enterprise should disclose a brief description of the nature of the contingent assets at the balance sheet date, and, where practicable, an estimate of their financial effect, measured using the principles set out for provisions in paragraphs 3672. It is important that disclosures for contingent assets avoid giving misleading ndications of the likelihood of income arising.73 In extremely rare cases, disclosure of some or all of the information required by paragraphs 84-89 can be expected to prejudice seriously the position of the enterprise a dispute with other parties on the subject matterof the provision, contingent or contingent asset. In such cases, an enterprise need not disclose the information, but should disclose the general nature of the dispute, together with the fact that, and reason why, the information has not been disclosed. Transitional Provisions74. The effect of adopting this Standard on its effective date (or earlier) should be reported as an adjustment to the opening balance of retained earnings for the period in which the Standard is first adopted. Enterprises are encouraged, but not required, to adjust the opening balance of retained earnings for the earliest period presented and to restate comparative information. If comparative information is not restated, this fact should be disclosed. , Net Profit or Loss for the75. The Standard requires a different treatment from IAS 8requires Period, Fundamental Errors and Changes in Accounting Policies. IAS 8comparative information to be restated (benchmark treatment) or additional pro forma comparative information on a restated basis to be disclosed (allowed alternative reatment) unless it is impracticable to do so.。

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E., Penman, S.H, 1984, “Timeliness of Reporting and the Stock Price Reaction toEa rnings Announcements”, journal of Accounting Research, Spring, pp. 21-47.35.Collins D.W., Rozeff M.S., Dhaliwal D.S., 1981, “The Economic Determinants of the MarketReaction to Proposed Mandatory Accounting Changes in the Oil and Gas Industry: A Cross-Sect ional Analysis”, Journal of Accounting and Economics, 37-71.36.Holthausen R.W., 1981, “Evidence on the Effect of Bond Covenants and ManagementCompensation Contracts on the Choice of Accounting Techniques: The Case of the Depreciation Switch-Back”, journal of Accounting & Economics, March, pp. 73-109.37.Zmijewski M.E., Hagerman R.L., 1981, “An Income Strategy Approach to the Positive Theory ofAccounting Standard Settings/Choice”, Journal of Accounting and Economics, 129-149.38.Lev B., Ohlson J.A, 1982, “M arket-Based Empirical Research in Accounting: A Review,Interpretation, and Extension”, Journal of Accounting Research, 249-322.39.Ou J. and Penman S.H., 1989, “Financial Statement Analysis and the Prediction of Stock Returns”,Journal of Accounting and Eco nomics, Nov.,295-329.40.Bruns Jr. W.J, Waterhouse, J., 1975, “Budgetary Control and Organization Structure”, journal ofAccounting Research, Autumn, pp. 177-203.41.Tinker A.M., Merino B.D., Neimark M., 1982, “The Normative Origins of Positive Theories:Ideology and Accounting Thought, Accounting, Organizations and Society”, No. 2, pp. 167-200.42.Foster, G., 1980, “Accounting Policy Decisions and Capital Market Research”, journal ofAccounting & Economics March, pp. 29-62.43.Gibbins M., 1984, “Propositions About the Psychology of Professional Judgement in PublicAccounting”, Journal of Accounting Research, Spring, pp. 103-125.44.Hopwood A.G, 1983, “On Trying to Study Accounting in the Contextsin which it Operates”,Accounting, Organizations and Society, No. 2/3, pp.287-305.45.Abdolmohammadi M.J., Wright A., 1987, “An Examination of the Effects of Experience and TaskComplexity on Audit Judgments”, The Accounting Review, pp. 1-13.46.Berry, A. J., Capps, T., Cooper, D., Ferguson, P., Hopper, T. and Lowe, E.A., 1985,“Management Control in an Area of the NCB: Rationales of Accounting Practices in a Public Enterprise”, Accounting, Organizations and Society, No.1, pp.3-28.47.Hoskin, K.W., Macve R.H, 1986, “Accounting and the Exami nation: A Genealogy of DisciplinaryPower”, Accounting, Organizations and Society, No. 2, pp. 105-136.48.Kaplan R.S, 1984, “The Evolution of Management Accounting”, The Accounting Review,390-341.49.Libby R., 1985, “Availability and the Generation of Hypot heses in Analytica1 Review”, journal ofAccounting Research, Autumn, pp. 648-667.50.Wilson G.P., 1987, “The Incremental Information Content of the Accrual and Funds Componentsof Earnings After Controlling for Earnings”, the Accounting Review, 293-322.51.F oster, G., Olsen, C., Shevlin T., 1984, “Earnings Releases, Anomalies, and the Behavior ofSecurity Returns”, The Accounting Review, October,pp.574-603.52.Lipe R.C., 1986,“The Information Contained in the Components of Earnings”, journal ofAccounting Rese arch, pp. 37-68.53.Rayburn J.,1986, “The Association of Operating Cash Flows and Accruals With SecurityReturns”, Journal of Accounting Research, 112-137.54.Ball, R. andFoster, G., 1982, “Corporate Financial Reporting: A Methodological Review ofEmpirical Research”, journal of Accounting Research, pp. 161-234.55.DemskiJ.S,Feltham G.A, 1978, “Economic Incentives in Budgetary Control Systems”, TheAccounting Review, 336-359.56.Cooper D.J,Sherer M.J, 1984, “The Value of Corporate Accounting Reports: Arguments for aPolitical Economy of Accounting”, Accounting, Organizations and Society, No.3,207-232.57.Arrington, C.E., Francis J.R., 1989, “Letting the Chat Out of the Bag: Deconstructionprivilege and Accounting Research”, Accounting Organization and Society, March,pp. 1-28.58.Fried, D.,Givoly, D., 1982, “Financial Analysts' Forecasts of Earnings: A BetterSurrogate for Market Expectations”, journal of Accounting & Economics,October, pp. 85-107.59.Waterhouse J.H., Tiessen P., 1978, “A Contingency Framework for Management AccountingSystems Research”, Accounting, Organizations and Society, No.3, pp.65-76.60.Ashton, R .H.,1974, “Experimental Study of Internal Control Judgment journal of accounting Research”, 1974, pp. 143-157.61.Collins D. W.,Dent, W. T., 1979, “The Proposed Elimination of Full Cost Accounting in theExtractive Petroleum Industry: An Empirical Assessment of the Market Consequences”,journal of Accounting & Economics, March, pp. 3-44.62.Watts R.L.,Leftwich, R. W., 1977, “The Time Series of Annual Accounting Earnings, journalof Accounting Research”, Autumn, pp. 253-271.63Otley D.T, 1980,“The Contingency Theory of Management Accounting: Achievement and Prognosis”,Accounting, Organi zations, and Society, NO. 4, 413-428.64.Hayes D.C, 1977,“The Contingency Theory of Managerial Accounting”, The Accounting Review,January, 22-39.65.Beaver, W. H.,Griffin, P. A. and Landsman, W. R., 1982, “The Incremental Information Contentof Replacement Cost Earnings”, Journal of Accounting & Economics, July, pp.15-39.66.Libby R., LewisB.L., 1977, “Human Information Processing Research in Accounting: The State ofthe Art”, Accounting, Organizations and Society, No.3, pp. 245-268.67.SchipperW.,Thompso n R., 1983, “The Impact Mergers-Related Regulations on the Shareholdersof Acquiring Firms”, Journal of Accounting Research, 184-221.68.Antle, R.,Smith, A., 1986, “An Empirical Investigation of the Relative PerformanceEvaluation of Corporate Executives”, j ournal of Accounting Research, spring,pp.1-39..69.GonedesN.J.,Dopuch N., Penman S.H., 1976, “Disclosure Rules, Information-Production, andCapital Market Equilibrium: The Case of Forecast Disclosure Rules”, Journal ofAccounting Research, 89-137.70.Ashton, A. H.and Ashton, R. H., 1998, “Sequential Belief Revision in Auditing”, TheAccounting Review, October, pp. 623-641.rcker D.F,1983, “The Association Between Performance Plan Adoption and Corporate CapitalInvestment”, Journal of Accounting and Economics, 3-30.72.McNicholsM.,Wilson G.P., 1988, “Evidence of Earnings Management from the Provision for BadDebts”, journal of Accounting Research, pp.1-31.73.Tomkins C.,Groves R., 1983, “The Everyday Accountant and Researching His Reality”,Accounting, Organiz ations and Society, No 4,pp361-374.74.Dye R.A, 1985,“Disclosure of Nonproprietary Information”, Journal of Accounting Research,123-145.75.Biddle, G. C.andLindahl F. W., 1982, “Stock Price Reactions to LIFO Adoptions: TheAssociationBetween Excess Returns and LIFO Tax Savings”, Journal of AccountingResearch, 1982, pp. 551-588.76.Joyce E.J.,1976, “Expert Judgment in Audit Program Planning”, journal of AccountingResearch, pp. 29-60.77.Kaplan R.S,1983, “Measuring Manufacturing Performance: A New Challenge f or ManagerialAccounting Research”, The Accounting Review,686-705.78.Ball R., 1972,“Changes in Accounting Techniques and Stock Prices”, journal of Accounting Research,Supplement, pp. 1-38.79.Ricks W.E, 1982,“The Market’s Response to the 1974 LIFO Adoptions”, Journal of AccountingResearch, 367-387.80.Albrecht, W. S.,Lookabill L. L., McKeown, J.C., 1977, “TheTime-Series Properties of AnnualEarnings”, journal of Accounting Research, Autumn, pp. 226-244.81.DeAngelo L.E,1981, “Auditor Size and Audit Quality”, Journal of Accounting and Economics,183-199.82.Merchant K.A.,1981, “The Design of the Corporate Budgeting System: Influences on ManagerialBehavioral and Performance”, The Accounting Review, October, pp. 813-829.83.Penman S.H,1980, “An Empirical Investment of the V oluntary Disclosure of CorporateEarnings Forecasts of Earnings”, Journal of Accounting Research, 132-160.84.Simunic D.,1980, “The Pricing of Audit Services: Theory and Evidence”, Journal ofAccounting Research, 161-190.85.Waller W. S.,Felix Jr. W.L., 1984, “The Auditor and Learning from Experience: SomeConjectures”, Accounting, Organizations and Society, No. 3, pp. 383-408.86.DyckmanT.R,Smith A.J, 1979, “Financial Accounting and Reporting by Oil and Gas ProducingCompanie s: A Study of Information Effects”, Journal of Accounting andEconomics, 45-75.87.Holthausen R.W.,Verrecchia R.E., 1988, “The Effect of Sequential Information Releases on theVariance of Price Changes in an IntertemporalMulti-Asset Market”, journal ofAccounting Research, Spring, pp.82-106.88.Hopwood A. G.,1978, “Towards an Organizational Perspective for the Study of Accounting andInformation Systems”, Accounting, Organizations and Society, No. 1, pp. 3-14.89.Leftwich R.W,1983, “Accounting Informati on in Private Markets: Evidence from Private LendingAgreements”. 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IMPLEMENTING ENVIRONMENTAL COSTACCOUNTING IN SMALL AND MEDIUM-SIZEDCOMPANIES1．ENVIRONMENTAL COST ACCOUNTING IN SMESSince its inception some 30 years ago, Environmental Cost Accounting (ECA) has reached a stage of development where individual ECA systems are separated from the core accounting system based an assessment of environmental costs with (see Fichter et al., 1997, Letmathe and Wagner , 2002).As environmental costs are commonly assessed as overhead costs, neither the older concepts of full costs accounting nor the relatively recent one of direct costing appear to represent an appropriate basis for the implementation of ECA. Similar to developments in conventional accounting, the theoretical and conceptual sphere of ECA has focused on process-based accounting since the 1990s (see Hallay and Pfriem, 1992, Fischer and Blasius, 1995, BMU/UBA, 1996, Heller et al., 1995, Letmathe, 1998, Spengler and H.hre, 1998).Taking available concepts of ECA into consideration, process-based concepts seem the best option regarding the establishment of ECA (see Heupel and Wendisch , 2002). These concepts, however, have to be continuously revised to ensure that they work well when applied in small and medium-sized companies.Based on the framework for Environmental Management Accounting presented in Burritt et al. (2002), our concept of ECA focuses on two main groups of environmentally related impacts. These are environmentally induced financial effects and company-related effects on environmental systems (see Burritt and Schaltegger, 2000, p.58). Each of these impacts relate to specific categories of financial and environmental information. The environmentally induced financial effects are represented by monetary environmental information and the effects on environmental systems are represented by physical environmental information. Conventional accounting deals with both – monetary as well as physical units – but does not focus on environmental impact as such. To arrive at a practical solution to the implementation of E CA in a company’s existing accounting system, and to comply with the problem of distinguishing between monetary and physical aspects, an integrated concept is required. As physical information is often the basis for the monetary information (e.g. kilograms of a raw material are the basis for the monetary valuation of raw material consumption), the integration of this information into the accounting system database is essential. From there, the generation of physical environmental and monetary (environmental) information would in many cases be feasible. For many companies, the priority would be monetary (environmental) information for use in for instance decisions regarding resource consumptions and investments. The use of ECA in small andmedium-sized enterprises (SME) is still relatively rare, so practical examples available in the literature are few and far between. One problem is that the definitions of SMEs vary between countries (see Kosmider, 1993 and Reinemann, 1999). In our work the criteria shown in Table 1 are used to describe small and medium-sized enterprises.Table 1. Criteria of small and medium-sized enterprisesNumber of employees TurnoverUp to 500employees Turnover up to EUR 50mManagement Organization- Owner-cum-entrepreneur -Divisional organization is rare- Varies from a patriarchal management -Short flow of information style in traditional companies and teamwork -Strong personal commitmentin start-up companies -Instruction and controlling with- Top-down planning in old companies direct personal contact- Delegation is rare- Low level of formality- High flexibilityFinance Personnel- family company -easy to survey number of employees- limited possibilities of financing -wide expertise-high satisfaction of employeesSupply chain Innovation-closely involved in local -high potential of innovationeconomic cycles in special fields- intense relationship with customersand suppliersKeeping these characteristics in mind, the chosen ECA approach should be easy to apply, should facilitate the handling of complex structures and at the same time be suited to the special needs of SMEs.Despite their size SMEs are increasingly implementing Enterprise Resource Planning (ERP) systems like SAP R/3, Oracle and Peoplesoft. ERP systems support business processes across organizational, temporal and geographical boundaries using one integrated database. The primary use of ERP systems is for planning and controlling production and administration processes of an enterprise. In SMEs however, they are often individually designed and thus not standardized making the integration of for instance software that supports ECA implementation problematic. Examples could be tools like the “eco-efficiency” approach of IMU (2003) or Umberto (2003) because these solutions work with the database of more comprehensive software solutions like SAP, Oracle, Navision or others. Umberto software for example (see Umberto, 2003) would require large investments and great background knowledge of ECA – which is not available in most SMEs.The ECA approach suggested in this chapter is based on an integrative solution –meaning that an individually developed database is used, and the ECA solution adopted draws on the existing cost accounting procedures in the company. In contrast to other ECA approaches, the aim was to create an accounting system that enables the companies to individually obtain the relevant cost information. The aim of the research was thus to find out what cost information is relevant for the company’s decision on environmental issues and how to obtain it.2．METHOD FOR IMPLEMENTING ECASetting up an ECA system requires a systematic procedure. The project thus developed a method for implementing ECA in the companies that participated in the project; this is shown in Figure 1. During the implementation of the project it proved convenient to form a core team assigned with corresponding tasks drawing on employees in various departments. Such a team should consist of one or two persons from the production department as well as two from accounting and corporate environmental issues, if available. Depending on the stage of the project and kind of inquiry being considered, additional corporate members may be added to the project team to respond to issues such as IT, logistics, warehousing etc.Phase 1: Production Process VisualizationAt the beginning, the project team must be briefed thoroughly on the current corporate situation and on the accounting situation. To this end, the existing corporate accounting structure and the related corporate information transfer should be analyzed thoroughly. Following the concept of an input/output analysis, how materials find their ways into and out of the company is assessed. The next step is to present the flow of material and goods discovered and assessed in a flow model. To ensure the completeness and integrity of such a systematic analysis, any input and output is to be taken into consideration. Only a detailed analysis of material and energy flows from the point they enter the company until they leave it as products, waste, waste water or emissions enables the company to detect cost-saving potentials that at later stages of the project may involve more efficient material use, advanced process reliability and overview, improved capacity loads, reduced waste disposal costs, better transparency of costs and more reliable assessment of legal issues. As a first approach, simplified corporate flow models, standardizedstand-alone models for supplier(s), warehouse and isolated production segments were established and only combined after completion. With such standard elements and prototypes defined, a company can readily develop an integrated flow model with production process(es), production lines or a production process as a whole. From the view of later adoption of the existing corporate accounting to ECA, such visualization helps detect, determine, assess and then separate primary from secondary processes. Phase 2: Modification of AccountingIn addition to the visualization of material and energy flows, modeling principal and peripheral corporate processes helps prevent problems involving too high shares of overhead costs on the net product result. The flow model allows processes to be determined directly or at least partially identified as cost drivers. This allows identifying and separating repetitive processing activity with comparably few options from those with more likely ones for potential improvement.By focusing on principal issues of corporate cost priorities and on those costs that have been assessed and assigned to their causes least appropriately so far, corporate procedures such as preparing bids, setting up production machinery, ordering (raw) material and related process parameters such as order positions, setting up cycles of machinery, and order items can be defined accurately. Putting several partial processes with their isolated costs into context allows principal processes to emerge; these form the basis of process-oriented accounting. Ultimately, the cost drivers of the processes assessed are the actual reference points for assigning and accounting overhead costs. The percentage surcharges on costs such as labor costs are replaced by process parameters measuring efficiency (see Foster and Gupta, 1990).Some corporate processes such as management, controlling and personnel remain inadequately assessed with cost drivers assigned to product-related cost accounting. Therefore, costs of the processes mentioned, irrelevant to the measure of production activity, have to be assessed and surcharged with a conventional percentage.At manufacturing companies participating in the project,computer-integrated manufacturing systems allow a more flexible and scope-oriented production (eco-monies of scope), whereas before only homogenous quantities (of products) could be produced under reasonable economic conditions (economies of scale). ECA inevitably prevents effects of allocation, complexity and digression and becomes a valuable controlling instrument where classical/conventional accounting arrangements systematically fail to facilitate proper decisions. Thus, individually adopted process-based accounting produces potentially valuable information for any kind of decision about internal processing or external sourcing (e.g. make-or-buy decisions).Phase 3: Harmonization of Corporate Data – Compiling and Acquisition On the way to a transparent and systematic information system, it is convenient to check core corporate information systems of procurement and logistics, production planning, and waste disposal with reference to their capability to provide the necessary precise figures for the determined material/energy flow model and for previously identified principal and peripheral processes. During the course of the project, a few modifications within existing information systems were, in most cases, sufficient to comply with these requirements; otherwise, a completely new softwaremodule would have had to be installed without prior analysis to satisfy the data requirements.Phase 4: Database conceptsWithin the concept of a transparent accounting system, process-based accounting can provide comprehensive and systematic information both on corporate material/ energy flows and so-called overhead costs. To deliver reliable figures over time, it is essential to integrate a permanent integration of the algorithms discussed above into the corporate information system(s). Such permanent integration and its practical use may be achieved by applying one of three software solutions (see Figure 2).For small companies with specific production processes, an integrated concept is best suited, i.e. conventional andenvironmental/process-oriented accounting merge together in one common system solution.For medium-sized companies, with already existing integrated production/ accounting platforms, an interface solution to such a system might be suitable. ECA, then, is set up as an independent software module outside the existing corporate ERP system and needs to be fed data continuously. By using identical conventions for inventory-data definitions within the ECA software, misinterpretation of data can be avoided.Phase 5: Training and CoachingFor the permanent use of ECA, continuous training of employees on all matters discussed remains essential. To achieve a long-term potential of improved efficiency, the users of ECA applications and systems must be able to continuously detect and integrate corporate process modifications and changes in order to integrate them into ECA and, later, to process them properly.。

以下是一些与会计专业相关的英文文献的例子：1. "The Role of Accounting in Corporate Governance: A Review of the Literature" - 作者：Scott, William R.这篇文献回顾了会计在企业治理中的作用，讨论了会计信息对企业决策和监管的重要性。

2. "IFRS Adoption and Financial Statement Effects: A Review of the Literature" - 作者：Nobes, Christopher这篇文献回顾了企业采用国际财务报告准则（IFRS）对财务报表的影响研究，探讨了IFRS对会计质量、报表透明度和投资者决策的影响。

3. "The Impact of Auditing on Corporate Governance: A Review of the Literature" - 作者：Abbott, Lawrence J.这篇文献回顾了审计在企业治理中的影响研究，讨论了审计对公司经营绩效、风险管理和内部控制的重要性。

4. "Earnings Management: A Literature Review" - 作者：Healy, Paul M.这篇文献回顾了盈余管理的研究文献，讨论了企业为达到特定目标而操纵财务报表的行为，以及其对投资者、监管机构和公司治理的影响。

5. "The Value Relevance of Accounting Information: A Review of the Literature" - 作者：Ohlson, James A.这篇文献回顾了会计信息的价值相关性研究，探讨了财务报表信息对股票价格、市场价值和投资者决策的影响。

关于会计的英语文章及翻译随着我国加入了WTO,对外交流不断扩大,对外经济业务也不断增涨。

社会及用人单位对会计人员专业英语(会计英语)水平的要求越来越高。

下面是店铺带来的，欢迎阅读!关于会计的英语文章及翻译1China's top banking regulator on Friday warned of growing risks to the country's financial system as a result of an unprecedented expansion in new loans and urged the country's lenders to improve their internal management.The statement by Liu Mingkang, chairman of the China Banking Regulatory Commission, may signal a more assertive stance from the body in the build-up to a top-level Communist party meeting scheduled for November that will set the country's economic agenda for the coming year.Chinese financial institutions extended Rmb8,185bn ($1,199bn) in local currency loans in the first eight months of this year, an increase of 164 per cent from the same period in 2008, a credit binge analysts say has been facilitated by a serious relaxation in lending standards.“This year, all kinds of risks have arisen in the banking sec tor along with the rapid credit expansion,” said Mr Liu in a written statement. “Banking institutions should always stick to the bottom line of compliance management, to lay a solid foundation for risk management.”For most of this year, the CBRC has been an almost lone voice within the government urging caution over the rapid loan growth and the potential for a future shock to the system.China's economic recovery has been largely fuelled by the flood of credit from the state-controlled banks but this hasprompted fears of fresh bubbles forming in the property and equities markets and raised the prospect that growth could falter as lending returns to a more sustainable level.“This is a high-risk strategy, since in prior eras, massive Chinese loan growth eventually led to massive Chinese non-performing loans and a banking sector that had to be recapitalised,” Michael Cembalest, chief investment officer at JPMorgan Global Wealth Management, said in a recent report.“The removal of loan quota limits once the g lobal recession hit may have unleashed a torrent of relaxed underwriting standards that will not be visible until the next downturn.”中国银行业最高监管机构上周五警告，由于新增贷款的空前扩张，中国金融体系面临的风险正日渐增加。

THE DEVELOPMENT OF INTERNAL AUDIT IN SAUDI ARABIA: AN INSTITUTIONAL THEORY PERSPECTIVEThe value of the internal audit functionPrevious studies have utilized a variety of approaches to determine appropriate criteria to evaluate the effectiveness of the internal audit function. For example, considered the degree of compliance with standards as one of the factors which affects internal audit performance. A 1988 research report from the IIA-United Kingdom（IIA-UK，1988）focused on the perceptions of both senior management and external auditors of the value of the internal audit function. The study identified the difficulty of measuring the value of services provided as a major obstacle to such an evaluation. Profitability, cost standards and the effectiveness of resource utilization were identified as measures of the value of services. In its recommendations it highlighted the need to ensure that internal audit work complies with SPPIA.In the US, Albrecht et al.(1988)studied the roles and benefits of the internal audit function and developed a framework for the purpose of evaluating internal audit effectiveness. They found that there were four areas that the directors of internal audit departments could develop to enhance effectiveness: an appropriate corporate environment, top management support, high quality internal audit staff and high quality internal audit work. The authors stressed that management and auditors should recognize the internal audit function as a value-adding function to the organization. In the UK, Ridley and D’Silva (1997) identified the importance of complying with professional standards as the most important contributor to the internal audit function adding value.Compliance with SPPIAA number of studies have focused specifically on the compliance of internal audit departments with SPPIA. Powell et al.(1992) carried out a global survey of IIA members in 11 countries to investigate whether there was evidence of a world-wide internal audit culture. They found an overall compliance rate of 82% with SPPIA.This high percentage prompted the authors to suggest that SPPIA provided evidence of the internationalization of the internal audit profession.A number of studies have focused on the SPPIA standard concerned with independence.Clark et al.(1981) found that the independence of the internal audit department and the level of authority to which internal audit staff report were the two most important criteria influencing the objectivity of their work. Plumlee (1985) focused on potential threats to internal auditor objectivity, particularly whether participation in the design of an internal control system influenced judgements as to the quality and effectiveness of that system. Plumlee found that such design involvement produced bias that could ultimately threaten objectivity.The relationship between the internal audit function and company management more generally is clearly an important factor in determining internal auditor objectivity. Harrell et al. (1989) suggested that perceptions of the views and desires of management could influence the activities and judgement of internal auditors. Also, they found that internal auditors who were members of the IIA were less likely to succumb to such pressure.Ponemon (1991) examined the question of whether or not internal auditors will report sensitive issues uncovered during the course of their work. He concluded that the three factors affecting internal auditor objectivity were their social position in the organization, their relationship with management and the existence of a communication channel to report wrongdoing.Internal audit research in Saudi ArabiaTo date there has been relatively little research about internal audit in the Saudi Arabian corporate sector, exceptions, however, are Asairy (1993)and Woodworth and Said (1996). Asairy (1993)sought to evaluate the effectiveness of internal audit departments in Saudi joint-stock companies. He studied departments in 38 companies using questionnaire responses from the directors of internal audit departments, senior company management, and external auditors. The result of this study revealed that one significant factor in the perceived success of internal audit was its independence from other corporate activities. The service provided by the internal audit department was affected by the support it received from the management, other employees andexternal auditors. The education, training, experience and professional qualifications of the internal auditors influenced the effectiveness of internal audit. On the basis of his study, Asairy (1993) recommended that all joint-stock companies, should have an internal audit function, and that internal auditing should be taught as a separate course in Saudi Universities.Woodworth and Said (1996)sought to ascertain the views of internal auditors in Saudi Arabia as to whether there were differences in the reaction of auditees to specific internal audit situations according to the nationality of the auditee. Based on 34 questionnaire responses from members of the IIA Dhahran chapter, they found there were no significant differences between the different nationalities. The internal auditors did not modify their audit conduct according to the nationality of the auditee and cultural dimensions did not have a significant impact on the results of the audit.Given the importance of complying with SPPIA, the professional and academic literature emphasizes the importance of the relationship between the internal audit department and the rest of the organization in determining the success or otherwise of internal audit departments (Mints,1972;Flesher,1996;Ridley & Chambers,1998 and Moeller & Witt,1999). This literature focuses on the need for co-operation and teamwork between the auditor and auditee if internal auditing is to be effective.Bethea (1992) suggests that the need for good human relations’ skills is important because internal auditing creates negative perceptions and negative attitudes. These issues are particularly important in a multicultural business environment such as Saudi Arabia where there are significant differences in the cultural and educational background of the auditors and auditees Woodworth and Said (1996).ResultsReasons for not having an internal audit departmentOf the 92 company interviews examining the reasons why companies do not have an internal audit function, the most frequent response from 52 companies (57%) was that reliance on the external auditor enabled the company to obtain the benefits that might be obtained from internal audit. Typically, interviewees argued that the external auditor is better, more efficient and saves money. Interviews with theexternal auditors revealed that client companies could not distinguish clearly between the work and roles of internal and external audit. For example, one external auditor said,there is a misperception of what the external auditor does, they think the external auditor does everything for the company and must discover any problem.Having said this, one external auditor doubted that an internal audit function would add value in all circumstances. When referring to the internal control system he stated,as long as they are happy with the final output, I think the internal audit function will not add value. External auditing eventually will highlight any significant internal control weakness.The second most frequent reason mentioned by interviewees (23 firms, 25%) for not operating an internal audit department was the cost/benefit trade-off. Specifically, 17 firms considered that the small size of the company and the limited nature of its activities meant that it would not be efficient for them to have an internal audit department. The external auditors interviewed were of the opinion that the readily identifiable costs as compared with the more difficult to measure benefits was a factor contributing to this decision.A number of other reasons were given by interviewees for not having an internal audit department. As a consequence of the high costs of conducting internal audit activities, 14 firms used employees who were not within a separate internal audit department to carry out internal audit duties. Eight companies did not think there was a need for internal audit because they believed their internal control systems were sufficient to obviate the need for internal audit. Five companies did not think that internal audit was an important activity and three felt that their type of the business did not require internal audit. Three respondents mentioned that they did not operate an internal audit department because professional people could not be found to run the department, and six companies did not provide a reason for not having an internal audit department. In 10 companies an internal audit department had been established but was no longer operating because of difficulties in recruiting qualified personneland changes in the organization structure. Having said this, eight companies without an internal audit department were planning to establish one in the future.The independence of internal audit departmentsCommentators and standard setters identify independence as being a key attribute of the internal audit department. From the questionnaire responses 60 (77%) of the internal audit departments stated that there was a written document defining the purpose, authority and responsibility of the department. In nearly all instances where there was such a document the terms of reference of the internal audit department had been agreed by senior management (93%), the document identified the role of the internal audit department in the organization, and its rights of access to individuals, records and assets (97%), and the document set out the scope of internal auditing (90%). Respondents were asked to assess the extent to which the relevant document was consistent with the specific requirements of SPPIA. In those departments where such a document existed 27 (45%) claimed full compliance with SPPIA, 23 (38%) considered their document to be partially consistent with SPPIA. In more thanone-third of the departments surveyed either no such document existed (n=18, 23%) or the respondent was not aware whether or not the document complied with SPPIA (n=10, 13%).SPPIA suggests that independence is enhanced when t he organization’s board of directors concurs with the appointment or removal of the director of the internal audit department, and that the director of the internal audit department is responsible to an individual of suitable seniority within the organization. It is noticeable that in 47 companies (60%) their responsibilities with regard to appointment, removal and the receipt of reports lay with non-senior management, normally a general manager. SPPIA recommends that the director of the internal audit department should have direct communication with the board of directors to ensure that the department is independent, and provides a means for the director of internal auditing and the board of directors to keep each other informed on issues of mutual interest. The interviews with directors of internal audit departments showed that departments tended to report to general managers rather than the board of directors. Further evidence of the lack ofaccess to the board of directors was provided by the questionnaire responses showing that in almost half the companies, members of the internal audit department have never attended board meetings and in only two companies did attendance take place regularly.Unrestricted access to documentation and unfettered powers of enquiry are important aspects of the independence and effectiveness of internal audit. The questionnaire responses revealed that 34 (44%) internal audit directors considered that they did not have full access to all necessary information. Furthermore, a significant minority (n=11, 14%) did not believe they were free, in all instances, to report faults, frauds, wrongdoing or mistakes. A slightly higher number (n=17, 22%) considered that the internal audit function did not always receive consistent support from senior management.SPPIA identifies that involvement in the design, installation and operating of systems is likely to impair internal auditor objectivity. Respondents were asked how often management requested the assistance of the internal audit department in the performance of non-audit duties. In 37 internal audit departments (47%) surveyed such requests were made sometimes, often or always, and only 27 (35%) departments never participated in these non-audit activities. The interviews revealed that in some organizations internal audit staff was used regularly to cover for staff shortages in other departments.。

The Optimization Method of Financial Statements Based on Accounting Management TheoryABSTRACTThis paper develops an approach to enhance the reliability and usefulness of financial statements. International Financial Reporting Standards (IFRS) was fundamentally flawed by fair value accounting and asset-impairment accounting. According to legal theory and accounting theory, accounting data must have legal evidence as its source document. The conventional “mixed attribute” accounting system should be re placed by a “segregated” system with historical cost and fair value being kept strictly apart in financial statements. The proposed optimizing method will significantly enhance the reliability and usefulness of financial statements.I.. INTRODUCTIONBased on international-accounting-convergence approach, the Ministry of Finance issued the Enterprise Accounting Standards in 2006 taking the International Financial Reporting Standards (hereinafter referred to as “the International Standards”) for reference. The Enterprise Accounting Standards carries out fair value accounting successfully, and spreads the sense that accounting should reflect market value objectively. The objective of accounting reformation following-up is to establish the accounting theory and methodology which not only use international advanced theory for reference, but also accord with the needs of China's socialist market economy construction. On the basis of a thorough evaluation of the achievements and limitations of International Standards, this paper puts forward a stand that to deepen accounting reformation and enhance the stability of accounting regulations.II. OPTIMIZA TION OF FINANCIAL STATEMENTS SYSTEM: PARALLELING LISTING OF LEGAL FACTS AND FINANCIAL EXPECTA TIONAs an important management activity, accounting should make use of information systems based on classified statistics, and serve for both micro-economic management and macro-economic regulation at the same time. Optimization of financial statements system should try to take all aspects of the demands of the financial statements in both macro and micro level into account.Why do companies need to prepare financial statements? Whose demands should be considered while preparing financial statements? Those questions are basic issues we should consider on the optimization of financial statements. From the perspective of "public interests", reliability and legal evidence are required as qualitative characters, which is the origin of the traditional "historical cost accounting". From the perspective of "private interest", security investors and financial regulatory authoritieshope that financial statements reflect changes of market prices timely recording "objective" market conditions. This is the origin of "fair value accounting". Whether one set of financial statements can be compatible with these two different views and balance the public interest and private interest? To solve this problem, we design a new balance sheet and an income statement.From 1992 to 2006, a lot of new ideas and new perspectives are introduced into China's accounting practices from international accounting standards in a gradual manner during the accounting reform in China. These ideas and perspectives enriched the understanding of the financial statements in China. These achievements deserve our full assessment and should be fully affirmed. However, academia and standard-setters are also aware that International Standards are still in the process of developing .The purpose of proposing new formats of financial statements in this paper is to push forward the accounting reform into a deeper level on the basis of international convergence.III. THE PRACTICABILITY OF IMPROVING THE FINANCIAL STATEMENTS SYSTEMWhether the financial statements are able to maintain their stability? It is necessary to mobilize the initiatives of both supply-side and demand-side at the same time. We should consider whether financial statements could meet the demands of the macro-economic regulation and business administration, and whether they are popular with millions of accountants.Accountants are responsible for preparing financial statements and auditors are responsible for auditing. They will benefit from the implementation of the new financial statements.Firstly, for the accountants, under the isolated design of historical cost accounting and fair value accounting, their daily accounting practice is greatly simplified. Accounting process will not need assets impairment and fair value any longer. Accounting books will not record impairment and appreciation of assets any longer, for the historical cost accounting is comprehensively implemented. Fair value information will be recorded in accordance with assessment only at the balance sheet date and only in the annual financial statements. Historical cost accounting is more likely to be recognized by the tax authorities, which saves heavy workload of the tax adjustment. Accountants will not need to calculate the deferred income tax expense any longer, and the profit-after-tax in the solid line table is acknowledged by the Company Law, which solves the problem of determining the profit available for distribution.Accountants do not need to record the fair value information needed by security investors in the accounting books; instead, they only need to list the fair value information at the balance sheet date. In addition, because the data in the solid line table has legal credibility, so the legal risks of accountants can be well controlled. Secondly, the arbitrariness of the accounting process will be reduced, and the auditors’ review process will be greatly simplified. The independent auditors will not have to bear the considerable legal risk for the dotted-line table they audit, because the risk of fair value information has been prompted as "not supported by legalevidences". Accountants and auditors can quickly adapt to this financial statements system, without the need of training. In this way, they can save a lot of time to help companies to improve management efficiency. Surveys show that the above design of financial statements is popular with accountants and auditors. Since the workloads of accounting and auditing have been substantially reduced, therefore, the total expenses for auditing and evaluation will not exceed current level as well.In short, from the perspectives of both supply-side and demand-side, the improved financial statements are expected to enhance the usefulness of financial statements, without increase the burden of the supply-side.IV. CONCLUSIONS AND POLICY RECOMMENDATIONSThe current rule of mixed presentation of fair value data and historical cost data could be improved. The core concept of fair value is to make financial statements reflect the fair value of assets and liabilities, so that we can subtract the fair value of liabilities from assets to obtain the net fair value.However, the current International Standards do not implement this concept, but try to partly transform the historical cost accounting, which leads to mixed using of impairment accounting and fair value accounting. China's accounting academic research has followed up step by step since 1980s, and now has already introduced a mixed-attributes model into corporate financial statements.By distinguishing legal facts from financial expectations, we can balance public interests and private interests and can redesign the financial statements system with enhancing management efficiency and implementing higher-level laws as main objective. By presenting fair value and historical cost in one set of financial statements at the same time, the statements will not only meet the needs of keeping books according to domestic laws, but also meet the demand from financial regulatory authorities and security investorsWe hope that practitioners and theorists offer advices and suggestions on the problem of improving the financial statements to build a financial statements system which not only meets the domestic needs, but also converges with the International Standards.基于会计管理理论的财务报表的优化方法摘要本文提供了一个方法，以提高财务报表的可靠性和实用性。

原文题目：《评述教育会计专业》作者：迈克尔卡夫金原文出处：School of Accounting and Finance, University of Wollongong,Wollongong, Australia会计教育会计教育。

一般来说，从业者似乎已不愿想改变- 要离开自己的舒适区- 慢，并已承认在与伦理，环境恶化，全球化相关的地区更广泛的社会问题所提出的问题，增加业务的复杂性和其他一些因素我写我的一些挫折（卡夫金，1981 年）和左新西兰追求我在澳大利亚的学习和职业生涯。

我后来成为澳大利亚的主要会计机构教育委员会主席。

在这种角色我曾与新西兰身体的教育委员会的领导组织，并得到非常积极的态度，他们与澳大利亚的机构都对促进更“圆”大学会计教育方案（其中大部分出自从业者，学者的鼓励！）。

最近在新西兰旅行，我一直很失望，观察什么似乎是一个这样做的目的完全逆转; 重点放在，由新西兰的专业团体，纯粹的技术能力，他们迫使大学遵守这一点- 复仇的bean 柜台？什么也令人失望对我来说是由学术带头人的决心明显缺乏，使专业团体的“决定” 什么通行证作为会计教育法规，如会计死记硬背。

我观察到有什么事我当作一个高级学者讨好自己的专业机构，而不是促进学科发展，将在二十一世纪更广泛的社会需要的知识要点。

因此，我的评论是针对试图界定什么是专业会计师- 毫无疑问，很多人可能不同意。

我的目的是展示合作的重要性，而不是怀疑和无知的需要和应具有什么样的会计专业的各个部分努力。

我并不想冒犯各位同事，而是试图提供一个什么样的我的看法是会计面临的问题和强调纪律，前进的方向，通过所有这些谁认为，在解决方案协助资讯科技合作是批判极大的社会问题。

从业人员有一个会计的执业类别广泛的业余爱好，所以任何评论，我所做的非常广泛的推广。

传统上，从业者已被注册会计师，会计师或公共部门私营会计师，但随着业务的日益复杂和商业机构在最近的时代，这些分类的界线变得越来越模糊。

Tax Accounting(From: Sun Kun. English Langusge in Accounting. Dongbei University of Finance & Economics Press, 2006.)Tax accounting is a branch of accounting that involves determining the correct liability-that is, the amount owed-for taxes, and preparing the necessary tax-return forms.Income taxes are a major concern to businesses as well as to individuals. Unfortunately, businessmen themselves often do not understand the tax laws, and they must therefore depend on the advice of tax accountants and lawyers. A tax accountant must have a thorough knowledge of the tax code of his or her country and of any divisions within it that have the power to levy, or impose, taxes.It is easy to appreciate the impact of income taxes on business. Careful planning designed to decrease the tax liability to the lowest level is thus a major concern of business. This planning is made possible by various provisions in the tax laws that offer alternative methods for handling particular transactions or accounting procedures. One alternative may thus have a significant tax advantage over another, resulting in either a tax saving, or postponement of the tax liability. A business can pay substantially more taxes than necessary if the wrong financial decision is made. Among these potentially significant decisions might be included the form of business under which to organize, whether or not to set up multiple corporations, and which accounting methods should be used to deal with inventory and depreciation.CHOOSING THE RIGHT FORM OF ORGANIZATION . There are three major forms of business ownership: the single proprietorship, the partnership, and the corporation. Tax laws vary considerably for each of these. In the case of both the individual proprietorship and partnership forms of business, income is taxed to the individual proprietor or partners. The owners of these businesses therefore pay the progressive income tax rate for individuals on their business income. A progressive income tax is one that charges a higher rate for higher earnings.Corporations, on the other hand, are subject to a tax on their profits, while the stockholders of a corporation are also taxed at the individual rates on the dividends they receive from these profits. Dividends are paid out of the corporation's earnings. The corporation is not allowed a deduction for the dividends it pays out when its taxable income is computed. This results in double taxation of the corporation'sincome.In certain eases, the double tax is eliminated or reduced under special provisions of the tax laws. Under one provision, the taxpayer receives a dividend exemption (income not subject to taxation) up to $ 100 for dividends received during the tax year. Another provision allows a corporation to be taxed as partnership if it meets the following requirements for a small business:(a)It is a domestic, rather than a foreign corporation.(b)It has no more than fifteen stockholders.(c)All the stockholders are didferent people.(d)No stockholder is a nonresident alien.(e)There is only one class of stock.While the small-business corporation can save a great deal in taxes by being taxed as partnership, it keeps the other nontax advantages, such as limited liability.Other income tax advantages often encourage the corporate form of organization. One of these is the possibility of selling the business or liquidating it; that is, of going out of business and disposing of the assets. When this occurs, it is possible to obtain long-term capital-gains treatment. A long-term capital gain is a profit on the sale of a capital asset that has been owned for a specified period. Long-term capital gains get preferential tax treatment-that is, half the rate applied to other kinds of income. A second possible tax advantage of the corporate structure is the deferral or postponement of double taxation by simply not paying dividends. A third is the flexibility that comes from being able to time the distribution of earnings so that they occur during the years in which the owners have the lowest tax liability. A fourth advantage is income splitting. This is a provision of the tax laws that allows the owner of a corporation to divide dividend payments from the corporation among members of his family by having each one own some of the stock. A fifth possible advantage is related to fringe benefits, such as group life insurance, medical payment plans, and wage continuation plans, that provide for full or partial payment of wages and salary to the employees during sickness. Many of these fringe benefits are encouraged in the tax laws by allowing deferred tax payments.CHOOSING THE RIGHT ACCOUNTING METHODS. The choice of one method or procedure over the possible alternatives can lead to a tax advantage.Some methods of accounting for depreciation offer a tax advantage. For example, in the declining-balance method, a greater percentage of the cost of a fixed asset isfigured for the earlier years of the life of the asset. The result is that part of the tax liability is deferred until later years.There is also a special tax credit for investment in most kinds of depreciable assets, with the exception of buildings that are acquired and placed in service. This credit was instituted as means of stimulating new investment in productive facilities.There are also different accounting methods for the inventory, commonly known as Fifo and Lifo. The Lifo method may be better from a tax standpoint since this method results in a lower tax liability in a period of rising prices. Under Lifo, the higher-priced goods are depreciated in the accounting period.A tax advantage also exists for businesses-that sell merchandise for personal use. These sales are often made on the installment basis, with payments spread over a period of weeks, months, or perhaps even years. For tax purposes, it is permissible to report the profit from sales during the years in which the actual payments are made rather than during the year of the original sale.A tax advantage is also available to the holders of most depletive assets-those which are used up, or depleted, over a period of time-like oil, natural gas, uranium, or coal. The taxpayer who owns assets of this kind is allowed a deduction on the gross income derived from the asset. The deduction is known as a depletion allowance; because of the economic importance of many of the depletive assets, the percentages allowed to the taxpayer are of great political concern.ACCOUNTING FOR INCOME TAXES. The basic accounting procedure for computing income taxes is relatively simple. The final or estimated tax liability is charged to the Income Tax Expense account and is deducted on the income statement. The liability is credited to the Estimated Income Taxes Payable account and is then classified as a current liability on the statement of financial position. There are, however, accounting problems that arise in regard to income taxes. These problems result from differences in the amount of taxable income and the amount of income reported on the income statement. This may result from the use of different accounting methods for tax purposes.CHINA'S TAX SYSTEM. The well-to-do in China have snubbed their government. In 2007 for the first time, anyone earning more than 120,000 yuan ($15,000) annually is supposed to file a personal income-tax return. Yet by the deadline of April 2nd(extended by a couple of days because of low compliance), only a small minority had done so. Threats of massive fines have gone unheeded.The government’s embarrassment was evident when it missed its own deadline of April 10th for announcing the total tally of tax returns completed. But officials have estimated the number is around 1.6m. The number of those required to file is widely reported to be 6m-7m and could well be much higher. Those who have done so already are mostly wage earners who have tax deducted from their salaries and feel they have no option but to report their incomes because they are already in the tax authorities’ records.A big difficulty for tax officials is that even some of the government’s own media have broken ranks and sugges ted that the middle classes’ obvious disdain for the new requirement may not be unreasonable. Confusingly, the annual tax return does not supersede an existing monthly requirement to report and pay tax on non-tax income if total earnings exceed a certain threshold. A newspaper run by the state prosecutor’s office argue that the tax administration had no legal authority to fine people for failing to fill out returns relating to income on which they had already paid tax.But very few bother to pay personal income tax unless it is deducted automatically. As some Chinese newspapers have pointed out, this is partly because many Chinese believed they get little in return for their taxes. They have to pay through the nose for health care and for decent education for their children. They are also resentful that few officials pay tax, even though many have big incomes from shady dealings.Even the words “no taxation without representation” have found their way into print, in an article in the “information times”, a go vernment owned newspaper in the southern city of Guangzhou. Noting that half of the delegates to China’s legislature were officials, the newspaper reported that commentators had pointed out that the parliament should have “fewer officials and more taxpayers”: an interesting distinction suggesting the taxman has struck a raw nerve.税务会计税务会计是会计的一个分支，其主要内容是如何确定正确的税务负债数额，编制纳税申报单。