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来源: 海外投资A股 2017-11-25 16:28:07 [] [博客] [旧帖] [给我悄悄话] 本文已被阅读: 次 (1269 bytes)

After documenting the turgidity of the standard-setting process, we ask the question: would a more rapid revision of accounting standards in response to preparers’ FE efforts be effective in improving financial reporting? It is not clear to us, as quicker responses will result in less stable standards, and in a world of continual transactions innovation, investors will have less time to learn about the underlying economics of transactions. On the other hand, failing to “patch up” accounting standards in response to transactions innovation may render accounting standards obsolete, may make the interpretation of financial reports more difficult, and may undercut whatever faith courts have that compliance with GAAP is evidence of good financial reporting and disclosure practices. We also establish a theorem that puts into perspective how successful standard setters can hope to be: we show that, no matter how they write standards, they can never develop accounting standards that will be successful in completely curtailing FE. 

 

http://faculty.som.yale.edu/shyamsunder/Research/Accounting%20and%20Control/Published%20Articles/197.FinancialEngineering/DyeGloverSunderHorizons11%2001%2014.pdf

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