财务会计理论（第6版）威廉·R·斯科特-scott_6e_PPT_ch02.pptVIP

* Copyright ? 2012 Pearson Canada Inc Financial Accounting TheorySixth EditionWilliam R. Scott Chapter 2 Accounting Under Ideal Conditions 2 - * Chapter 2Accounting Under Ideal Conditions 2 - * Assumptions Known future cash receipts Given interest rate Basis of accounting Present value Income recognition As changes in present value occur  2.2 Ideal Conditions of Certainty 2 - * 2.3 Ideal Conditions of Uncertainty Assumptions States of nature Known set State realization publicly observable State probabilities objective publicly known Given interest rate Continued 2 - * Ideal Conditions of Uncertainty (continued) Basis of accounting Expected present value Income recognition As changes in expected present value occur 2 - * 2.4 Reserve Recognition Accounting An application of present value accounting when ideal conditions do not exist SFAS 69 of FASB Applies to proved reserves only Discounted at mandated rate of 10% Revenue recognized as reserves are proved Uses oil gas prices as at end of period Not when expected to be sold Continued 2 - * Reserve Recognition Accounting (continued) Relevance versus Reliability Relevant information Information about future firm performance Reliable information Complete (i.e., nothing left out) Free from material error Free from bias Under ideal conditions, complete relevance and reliability are attained Continued 2 - * Reserve Recognition Accounting (continued) Canadian Reserve Recognition Accounting Text, Chapter 2, Problem 26, NI 51-101 Relevance compared to SFAS 69? Reliability compared to SFAS 69? Why do many large Canadian firms opt out in favour of SFAS 69? Continued 2 - * Reserve Recognition Accounting (continued) Critique of RRA Estimates needed to apply RRA Estimates of quantities Estimates of timing of extraction Estimates of prices State probabilities not objective Estimates are subject to error and bias Major adjustments to previous estimates usually neede