财务会计理论(司可脱)PPT文件01_scott_im_ch01.pptVIP

FINANCIAL ACCOUNTING THEORY Purpose: To create an awareness of the financial reporting environment in a market economy Chapter 1Introduction Some Historical Perspective Paciolo, 1494 English Corporations Acts Compulsory audit Developments in the United States Corporate income tax, 1909 SEC, 1934 The search for accounting principles Organization of the Book Information Asymmetry Two Main Types Adverse selection Persons with an information advantage exploit this advantage Insider trading Moral hazard Manager knows his/her actions in managing firm but shareholders do not Manager shirking Use