财务会计和税务会计一致下,影响会计政策选择的因素.docVIP

外文文献翻译 原文： Factors influencing a firm’s accounting policy decisions when tax accounting and financial accounting coincide1. 1.Introduction A firms accounting policy decisions are made on the basis of the onsequences of the alternative policies。According to Holthausen and Leftwich, afirms reporting policy choice has economic consequences when changes in the rulesused to calculate accounting numbers alter the distribution of a firms cash ows, orthe wealth of parties who use those numbers for contracting or decision making. Inaddition to their use in the contracting agreements between the various parties of afirm, reported accounting fi the level of panys tax liability . This is the case,provided that the same accounting treatment is used for financial reporting and taxpurposes alike. Tax planning can result in an increase in the firms tax saving andconsequently it can have a positive effect on a firms cash ows .As a consequence,assuming rationality and efficient capital markets, an accounting policy thatminimizes taxable ncome should be preferred ;However, given that the reduction of afirms tax liability is usually panied by a corresponding decrease in itsreported e, tax planning, under certain circumstances, can have seriousimplications for various parties involved with a firm. The unfavorable picture of thefirms financial position that may emerge as a result of a decrease in the level ofreported figures, can have serious consequences with regard to firms ability to meetits contractual and regulatory obligations, while shareholders and managerspersonal wealth may be affected as well. These implications have been designated asthe non-tax costs-or financial reporting costs-of a tax reducing policy. Each party ofa firm is supposed to trade-off the tax benefits of an accounting choice, against theensuing non-tax costs. The e of this trade-off is supposed to inuence afirms accounting policy decisions. The aim of this study is to provide an understanding of th