《企业盈余行为》PPT课件.ppt

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1、企業盈餘行為,http:/,專業經理人對CFO挑戰認知之比較,財務長面對的責任、風險與挑戰,道德（法規之外的最後防線）所帶來的挑戰企業：提高透明度與資訊揭露的品質企業內部的遵循資產衡量與會計政策真實表達企業營運 全球化競爭環境，應有相對應的資訊揭露水準財會準則：朝向聚合(convergence),財務長面對的責任、風險與挑戰,道德與法規的挑戰之外，財務長回歸基本面瞭解公司創造價值的方式整合財務與營運的績效衡量指標保持財務衡量系統的一致與透明重視溝通檢視內外，降低企業風險資產的真實價值與衡量標準公司的風險管理政策會計師（會計師業：更嚴謹的獨立性要求由內部控制風險的查核移向外部經營風險的評估）,課

2、程討論大綱：,財務報導環境(Accounting&Capital Market)公司治理(Corporate Government)股權結構資訊透明度財務報導/盈餘管理(Financial Reporting Strategy/Earnings Management)盈餘屬性及審計,Financial Reporting Environment,Statutory Financial ReportsFinancial StatementsEarnings AnnouncementsOther statutory Reports(Key SFC filings)Factors Affecting

3、 Statutory F/ReportsGAAP(Authoritative)ManagersMonitoring Enforcement Mechanisms,Financial Reporting Environment,Regulators,FASB,Industry Practices,GAAP,Enforcement and Monitoring Mechanisms,SFC,Corporate Governance,Managers,Auditors,Statutory Financial Reports(Financial Statements),Alternative Info

4、rmation Sources,Economy and Industry Information,Voluntary Disclosure,Users,Analysts,Investors and Creditors,Other Users,Litigation,Framework to think about accounting:Accounting and capital markets(Healy and Palepu,JAE 2001),Investors,ListedCompanies(insiders),FinancialIntermediaries Institutional

5、investors:mutual/pension funds,banks&Insurance cos Investment banks Venture capital firms,InformationIntermediaries Auditors Financial analysts Bond-rating agencies Financial press,Information,Capital,Regulation of capital markets&financial institutions,Regulation of auditors,analysts,&disclosure(in

6、cluding GAAP),How accounting info enhance performance(Bushman and Smith 2001 JAE),Enhance Economic Performance,Channel 1:Management accountingHelp identify profitable projects,Channel 2:Governance or stewardshipMake sure managers undertake profitableprojects and distribute profit to shareholders,Channel 3:Disclosure&ValuationReduction in information asymmetries among investors,Financial accounting informationStock price information,Reduce cost of external financing,Positive accounting theory&earnings management,