财务会计理论(司可脱)PPT文件08_scott_im_ch08.pptVIP

Chapter 8Economic Consequences and Positive Accounting Theory Economic Consequences, a Simple Definition Accounting Policies Matter (Especially to Managers) Recall From Efficient Securities Market Theory Beaver (1973) Argued That Accounting Policy Choices Do Not Affect Firms’ Security Prices, if No Cash Flow Effects and if Chosen Policies are Fully Disclosed This Argument Implies That Accounting Policies Do Not Matter Another Efficient Securities Market Anomaly? Answer: No Economic Consequences Can Be Reconciled With Efficient Securities Market Theory But First, We Illustrate Existence o