国际会计学第六版chapter_5.ppt

International Accounting, 6/e Frederick D.S. Choi Gary K. Meek Learning Objectives Distinguish voluntary and mandatory disclosure and the applicable regulatory measures. Identify the broad objectives for accounting disclosure systems in investor-oriented equity markets. Development of Disclosure Voluntary disclosure Voluntary disclosures are increasing as investors demand more detailed and timely information. But managers’ incentives for disclosure aren’t always aligned with those of investors. Disclosure regulations and third party certification can improve the functioning of capital markets. Development of Disclosure (contin) Regulatory disclosure requirements Stock exchanges want to be sure that investors have enough information to evaluate a company’s performance and prospects. Disclosure protects investors, but shareholder protection varies across countries. Reporting and Disclosure Practices Forward-looking information Includes Forecasts of revenues, income, cash flows, capital expenditures Prospective information about future economic performance or position Statements of management’s plans and objectives for future operations Reporting and Disclosure Practices (contin) Segment disclosures Disaggregated information about a firm’s industry and geographic operations and results Includes disaggregated information on Revenue Income Reporting and Disclosure Practices (contin) Social responsibility reporting Reporting to “stakeholders”: employees, customers, suppliers, governments, activist groups, the general public, in addition to investors. Reporting and Disclosure Practices (contin) Examples: Employee reporting Employment levels and personnel costs by division and region of the world Management development Compensation Diversity Human rights Reporting and Disclosure Practices (contin) Special disclosures for non-domestic financial statement users Language translations and currency restatements Discussion of GAAP differences Limited restatement of inco