利润及其操纵外文翻译 (3).doc

THE PROFIT AND ITS MANIPULATION Masca Ema Universitatea “Petru Maior”, Tg. Mures, bld. 1 Decembrie 1918, nr. 13/10, 0265266237, E-mail: masca_ema@ In the light of recent corporate scandals, accounting today as an objective way of presenting economic reality is suffering from a real crisis of confidence. Central to the Anglo-Saxon system of corporate governance, it has been pushed into the public spotlight, where its impartiality and objectivity is being questioned. Keywords: profit, manipulation, management The Positive Accounting Theory and profit manipulation Even though most of the scandals have taken place in the United States, the crisis of confidence has had an impact far beyond U.S. borders, as the Anglo-Saxon system of governance is spreading throughout continental Europe and particularly in France. In order to contain the crisis, the United States and France are committed to institutional and legal reform. Moreover, those identified as having perpetrated such manipulation, essentially auditors and financial directors, have been legally sanctioned. We should nonetheless question whether these legal and legislative measures will be sufficient to restore long-term confidence in the system. Bernard Collase is asking himself if shouldn’t the social dimension of the issue be taken into account? Isn’t it necessary first to understand the reasons behind profit manipulation and how it functions before changing legislation? Tenants of Positive Accounting Theory have represented the mainstream of accounting research since the early 80s. They see profit manipulation, which they euphemistically call “earnings management”, from an exclusively economic standpoint. How and why do management controllers take part in profit manipulation? That shareholder pressure leads management controllers to manipulate their firm’s profits. Going beyond individual responsibility, the organization imposed on a company by its shareholders with the aim of respec