會(huì)計(jì)英文文獻(xiàn)083：會(huì)計(jì)謹(jǐn)慎性原則的起源與經(jīng)濟(jì)影響

1、會(huì)計(jì)英文文獻(xiàn)083：會(huì)計(jì)謹(jǐn)慎性原則的起源與經(jīng)濟(jì)影響外文翻譯：會(huì)計(jì)謹(jǐn)慎性原則的起源與經(jīng)濟(jì)影響 原文來(lái)源：中國(guó)論文中心更多原創(chuàng)經(jīng)管論文及英文文獻(xiàn)與翻譯請(qǐng)?jiān)L問(wèn)：http:/經(jīng)管論文.com/ ,并提供定制服務(wù)譯文正文：謹(jǐn)慎性是傳統(tǒng)會(huì)計(jì)中一項(xiàng)歷史久遠(yuǎn)、影響深遠(yuǎn)但又頗具爭(zhēng)議的計(jì)量原則。我國(guó)自1993年頒布的企業(yè)會(huì)計(jì)準(zhǔn)則中首次引入了謹(jǐn)慎性原則,在2001年新的企業(yè)會(huì)計(jì)制度中這一原則得到進(jìn)一步的發(fā)展,許多體現(xiàn)謹(jǐn)慎性原則的會(huì)計(jì)處理方法被引進(jìn),它對(duì)會(huì)計(jì)實(shí)務(wù)的影響也日漸凸現(xiàn),但我國(guó)對(duì)謹(jǐn)慎性原則的研究大多處于解釋運(yùn)用表層面,一、謹(jǐn)慎性原則的內(nèi)涵及其演化謹(jǐn)慎性原則歷史可以追溯到中世紀(jì),它最早是財(cái)產(chǎn)托管人解脫其受托責(zé)任

2、的一種策略,后來(lái)被會(huì)計(jì)人員所認(rèn)同接受,逐漸成為一項(xiàng)歷史悠久、影響深遠(yuǎn)但又頗具爭(zhēng)議的會(huì)計(jì)核算原則。從筆者目前掌握的資料看,這些概念可以歸納為以下幾類:（一）受托責(zé)任觀下的謹(jǐn)慎性原則謹(jǐn)慎性原則的起源可以追溯到中世紀(jì),當(dāng)時(shí)的財(cái)產(chǎn)托管人為了減輕受托責(zé)任,對(duì)其托管財(cái)產(chǎn)的增值不進(jìn)行任何預(yù)計(jì)。隨著19世紀(jì)會(huì)計(jì)受托責(zé)任的盛行,會(huì)計(jì)人員面對(duì)著日益上升的訴訟風(fēng)險(xiǎn),普遍存在強(qiáng)烈的災(zāi)難意識(shí),中世紀(jì)財(cái)產(chǎn)托管人減輕責(zé)任的謹(jǐn)慎方式逐漸為會(huì)計(jì)界所認(rèn)同,進(jìn)而形成了受托責(zé)任觀下的謹(jǐn)慎性原則。受托責(zé)任觀下的謹(jǐn)慎性原則的表述很多,其中最典型的是bliss在1924年給出的一個(gè)定義:不得預(yù)計(jì)利得,但預(yù)計(jì)一切損失。它意味著會(huì)計(jì)師可以運(yùn)用

3、各種手段低估資產(chǎn)和收入,高估負(fù)債和費(fèi)用,以減輕受托責(zé)任。這種觀點(diǎn)本身缺乏會(huì)計(jì)學(xué)和經(jīng)濟(jì)學(xué)的理論依據(jù),它只是站在“實(shí)用主義”的角度來(lái)對(duì)謹(jǐn)慎性進(jìn)行定義,強(qiáng)調(diào)蓄意地、一貫地低估凈資產(chǎn)和利潤(rùn),招致了對(duì)謹(jǐn)慎性的諸多批評(píng)。謹(jǐn)慎性原則的批評(píng)者認(rèn)為,謹(jǐn)慎性的蓄意低估,會(huì)形成大量的“秘密準(zhǔn)備”,有違會(huì)計(jì)信息真實(shí)性和公允表達(dá)的要求。（二）決策有用觀下的謹(jǐn)慎性原則進(jìn)入20世紀(jì)80年代以后,隨著會(huì)計(jì)目標(biāo)由受托責(zé)任觀轉(zhuǎn)向決策有用觀,對(duì)謹(jǐn)慎性的批評(píng)也日漸激烈,謹(jǐn)慎性的原理和內(nèi)涵被會(huì)計(jì)職業(yè)團(tuán)體或準(zhǔn)則制定機(jī)構(gòu)重新審視。美國(guó)的fasb在它的概念框架研究中反復(fù)討論了這個(gè)概念,并且試圖用“審慎”來(lái)取代這一概念,在財(cái)務(wù)會(huì)計(jì)概念公告(s

4、fac)第2號(hào)中,它將謹(jǐn)慎性表述為:“謹(jǐn)慎性是對(duì)于不確定性的一個(gè)審慎反應(yīng),以確保商業(yè)中固有的風(fēng)險(xiǎn)和不確定性被充分考慮。因此,在未來(lái)收到或支付的兩個(gè)估計(jì)金額之間有同等的可能性時(shí),謹(jǐn)慎性要求使用比較不樂(lè)觀的估計(jì)數(shù)?！蓖瑫r(shí)fasb也明確指出:“(在這種定義下),穩(wěn)健性的概念可能與某些重要的質(zhì)量特征產(chǎn)生沖突,如公允表述、中立性和可比性(包括一致性)。財(cái)務(wù)報(bào)告中的穩(wěn)健性不應(yīng)該再蓄意地、一貫性地低估凈資產(chǎn)和利潤(rùn)。”與前述的bliss定義相比,fasb的定義一方面指出謹(jǐn)慎性有助于降低企業(yè)風(fēng)險(xiǎn),突出了謹(jǐn)慎性原則的經(jīng)濟(jì)作用,從而使謹(jǐn)慎性原則有了更多的理論依據(jù),另一方面也是對(duì)謹(jǐn)慎性認(rèn)識(shí)的一個(gè)新突破。因?yàn)閺膄asb

5、的說(shuō)明來(lái)看,它并不鼓勵(lì)一味地低估資產(chǎn)和收入,高估負(fù)債和費(fèi)用,否定了過(guò)去那種蓄意地一貫少計(jì)凈利潤(rùn)和凈資產(chǎn)的做法,認(rèn)為會(huì)計(jì)人員對(duì)信息進(jìn)行取舍時(shí)需要持穩(wěn)健的態(tài)度,但同時(shí)要考慮會(huì)計(jì)信息的公允表達(dá)、中立性和相關(guān)性,從而使所提供的會(huì)計(jì)信息既能應(yīng)對(duì)商業(yè)環(huán)境中固有的風(fēng)險(xiǎn)和不確定性,又能滿足投資者相關(guān)決策需要。這一定義主要是定性描述,某些方面還是比較含糊,例如它并沒(méi)有詳細(xì)說(shuō)明“審慎反應(yīng)”的含義,也沒(méi)有解釋這一審慎反應(yīng)是如何保證風(fēng)險(xiǎn)被“充分的考慮”。（三）實(shí)證研究中的謹(jǐn)慎性原則20世紀(jì)60年代以來(lái),隨著會(huì)計(jì)理論的研究方法由規(guī)范研究逐漸向?qū)嵶C研究轉(zhuǎn)移,大量的會(huì)計(jì)實(shí)證研究的文獻(xiàn)涌現(xiàn)出來(lái)。作為謹(jǐn)慎性原則的研究也逐漸轉(zhuǎn)向

6、實(shí)證研究為主,要對(duì)謹(jǐn)慎性原則進(jìn)行實(shí)證分析就必須有相應(yīng)的定義來(lái)界定它、量化它,因此從實(shí)證研究中涌現(xiàn)出謹(jǐn)慎性的大量定義。其中較有代表性的有兩個(gè):一個(gè)是felton ham在1995年提出的定義,該定義指出:如果企業(yè)股權(quán)的市場(chǎng)價(jià)值在時(shí)點(diǎn)+1的期望值與企業(yè)股權(quán)在時(shí)點(diǎn)+1的賬面價(jià)值之差在趨于無(wú)窮大時(shí)的情況下大于0,則認(rèn)為企業(yè)會(huì)計(jì)是謹(jǐn)慎的;另一個(gè)是balls在1997年提出的定義,該定義對(duì)謹(jǐn)慎性原則的解釋是:會(huì)計(jì)人員傾向于對(duì)好消息(利得)的確認(rèn)比對(duì)壞消息(損失)的確認(rèn)要求有更加嚴(yán)格的證據(jù)。從這兩個(gè)定義可以看出,實(shí)證研究中對(duì)謹(jǐn)慎性原則的定義抓住了謹(jǐn)慎性的實(shí)質(zhì),前者反映的是謹(jǐn)慎性低估企業(yè)凈資產(chǎn)賬面價(jià)值的特征,

7、可以稱之為“資產(chǎn)負(fù)債表導(dǎo)向的謹(jǐn)慎性原則”;后者反映的是謹(jǐn)慎性對(duì)利得和損失的不對(duì)稱性處理特征,即損失被立即確認(rèn),而利得只有在實(shí)現(xiàn)以后才能被確認(rèn),可以稱之為“損益表導(dǎo)向的謹(jǐn)慎性原則”。在現(xiàn)代會(huì)計(jì)觀點(diǎn)下,利潤(rùn)計(jì)量要比資產(chǎn)計(jì)價(jià)更加重要,因此對(duì)“損益表導(dǎo)向的謹(jǐn)慎性原則”的實(shí)證研究也居多。對(duì)于這三種類型的謹(jǐn)慎性原則,受托責(zé)任觀下的謹(jǐn)慎性由于缺乏理論依據(jù)和存在明顯的缺陷,基本上已經(jīng)被準(zhǔn)則制定機(jī)構(gòu)和研究人員所擯棄,而決策有用觀下的謹(jǐn)慎性和實(shí)證研究中的謹(jǐn)慎性觀點(diǎn)得到了準(zhǔn)則制定機(jī)構(gòu)和研究人員的普遍接受,從這兩者的關(guān)系來(lái)看,前者主要是對(duì)謹(jǐn)慎性的定性描述,而后者是對(duì)謹(jǐn)慎性的定量描述,兩者可以互為補(bǔ)充、互為說(shuō)明?？傮w來(lái)

8、看,現(xiàn)代會(huì)計(jì)強(qiáng)調(diào)謹(jǐn)慎性是對(duì)于商業(yè)環(huán)境中固有風(fēng)險(xiǎn)和不確定性一個(gè)審慎反應(yīng),即對(duì)利得的確認(rèn)比對(duì)損失的確認(rèn)要求有更高的證據(jù),由早期的將謹(jǐn)慎性視為蓄意低估股東凈利和凈資產(chǎn)轉(zhuǎn)變?yōu)楸M量不能高估資產(chǎn)和利潤(rùn)(但不能蓄意低估)。二、謹(jǐn)慎性原則起源的經(jīng)濟(jì)解釋會(huì)計(jì)研究人員對(duì)謹(jǐn)慎性原則起源提出了眾多的解釋,概括起來(lái)主要有三個(gè)方面:契約、訴訟、稅收。1、契約解釋:在契約解釋下,謹(jǐn)慎性被看作是在契約各方之間解決代理沖突的一個(gè)重要的締約手段。按照契約理論,企業(yè)和各有關(guān)當(dāng)事人之間由于不對(duì)稱信息、不對(duì)稱利益、有限的視野和有限的責(zé)任會(huì)產(chǎn)生諸多機(jī)會(huì)主義行為。而謹(jǐn)慎性是對(duì)契約業(yè)績(jī)的理想計(jì)量,因?yàn)樗鼘?duì)利得要求更嚴(yán)格的確認(rèn)標(biāo)準(zhǔn),從而可以限

9、制有關(guān)各方的機(jī)會(huì)主義行為,有效減輕企業(yè)和有關(guān)當(dāng)事人之間的代理沖突。如在債務(wù)契約中,股東和管理者可能會(huì)高估盈余和資產(chǎn),將借入的債務(wù)作為清算性股利進(jìn)行分配,從而將債權(quán)人的財(cái)富轉(zhuǎn)移給股東。而謹(jǐn)慎性原則避免高估資產(chǎn)和盈余,對(duì)股利分配施加約束,保障和提高了企業(yè)的償債能力,降低了企業(yè)股利過(guò)度分配的可能性。另外在管理者的報(bào)酬契約中,企業(yè)管理者有動(dòng)機(jī)高估凈資產(chǎn)和盈余,最大化其當(dāng)期酬金,損害股東的利益。為了避免這種情況的發(fā)生,股東可能事先在補(bǔ)償合同中要求運(yùn)用謹(jǐn)慎性去計(jì)量收益。因此,從契約解釋來(lái)看,謹(jǐn)慎性原則是作為一種有效的締約機(jī)制而自然產(chǎn)生的,它的存在降低了各種契約的違約可能性,提高了企業(yè)的價(jià)值。謹(jǐn)慎性的契約解

10、釋得到了較多的理論和實(shí)證支持。ahmed等人發(fā)現(xiàn),股利沖突越大,企業(yè)報(bào)告越謹(jǐn)慎,謹(jǐn)慎性成為一個(gè)有效的締約機(jī)制去減輕股東與債務(wù)人之間的股利沖突。另外,ball等人發(fā)現(xiàn)普通法國(guó)家企業(yè)盈余要比成文法國(guó)家的企業(yè)盈余要謹(jǐn)慎性的多,原因在于,普通法國(guó)家有強(qiáng)大的投資者保護(hù)法律,企業(yè)通常優(yōu)選契約作為解決代理問(wèn)題的方式,因此對(duì)謹(jǐn)慎性的要求較強(qiáng)。而在成文法的國(guó)家內(nèi),契約各方的信息不對(duì)稱問(wèn)題更有可能私下解決而不使用契約,因此對(duì)謹(jǐn)慎性的要求較弱。2、訴訟解釋:股東訴訟是謹(jǐn)慎性原則產(chǎn)生和存在的另一個(gè)重要來(lái)源。許多研究發(fā)現(xiàn),投資者大多是風(fēng)險(xiǎn)回避者,他們希望能夠立即得到有關(guān)潛在風(fēng)險(xiǎn)的信息,而對(duì)于有關(guān)潛在利得的信息卻不甚關(guān)心

11、。因此公司延期報(bào)告潛在的損失比延期報(bào)告潛在的利得會(huì)面臨更大的訴訟威脅,也就是訴訟風(fēng)險(xiǎn)更可能源自于收入與資產(chǎn)的高估而不是低估,會(huì)計(jì)人員為了避免日益上升的訴訟風(fēng)險(xiǎn),“寧可失之低估,而不愿失之高估”,從而股東訴訟成為謹(jǐn)慎性產(chǎn)生和存在的另一個(gè)重要來(lái)源。訴訟解釋在理論上和實(shí)務(wù)上也獲得了較多的理論和實(shí)證支持。balls檢測(cè)了美國(guó)四個(gè)不同的訴訟責(zé)任期間的謹(jǐn)慎性,發(fā)現(xiàn)在兩個(gè)訴訟責(zé)任上升較高期間謹(jǐn)慎性存在顯著的上升,而在訴訟責(zé)任上升較低期間謹(jǐn)慎性不上升,這一結(jié)果與訴訟導(dǎo)致謹(jǐn)慎性的解釋一致。另外,ball等人指出,在普通法國(guó)家預(yù)期的較高的訴訟風(fēng)險(xiǎn)下,企業(yè)的謹(jǐn)慎性會(huì)增強(qiáng),其結(jié)論也支持了這一預(yù)測(cè)。3、稅收解釋:稅收解

12、釋認(rèn)為,納稅收益與會(huì)計(jì)收益之間的聯(lián)系,使得管理人員有動(dòng)機(jī)運(yùn)用謹(jǐn)慎性原則來(lái)遞延稅收的支付。謹(jǐn)慎性原則通過(guò)推遲收入的確認(rèn)及加速費(fèi)用的確認(rèn)會(huì)延期稅收支付,從而減少稅收支付的現(xiàn)值,增加公司的價(jià)值。guenther等人的研究表明,會(huì)計(jì)方法會(huì)影響應(yīng)稅收益。shackelford進(jìn)一步指出,納稅收益與會(huì)計(jì)報(bào)告收益的聯(lián)系為稅收支付提供了動(dòng)機(jī),因而導(dǎo)致對(duì)凈資產(chǎn)和收益的低估,因此他預(yù)測(cè),當(dāng)兩者之間的聯(lián)系變得更加緊密時(shí),或者稅收上升時(shí),財(cái)務(wù)報(bào)告會(huì)變得更加謹(jǐn)慎。但是從目前的相關(guān)文獻(xiàn)來(lái)看,還沒(méi)有直接的研究致力于稅收解釋,這一解釋的相關(guān)的理論和實(shí)證證據(jù)還很弱。三、謹(jǐn)慎性原則的經(jīng)濟(jì)影響體現(xiàn)謹(jǐn)慎性原則的會(huì)計(jì)實(shí)務(wù)方法有很多,主

13、要包括:計(jì)提應(yīng)收賬款的壞賬準(zhǔn)備、存貨的成本與市價(jià)孰低計(jì)價(jià)法、存貨的后進(jìn)先出法的發(fā)出假設(shè)、存貨的跌價(jià)損失準(zhǔn)備、固定資產(chǎn)的加速折舊法、長(zhǎng)期資產(chǎn)的減值準(zhǔn)備、研發(fā)支出的費(fèi)用化處理方法等。這些謹(jǐn)慎性方法的運(yùn)用首先影響企業(yè)財(cái)務(wù)報(bào)表數(shù)字,使企業(yè)凈資產(chǎn)被低估、正的經(jīng)濟(jì)盈余被反映,但是有關(guān)這種謹(jǐn)慎性原則的經(jīng)濟(jì)后果,即投資者能否看出不同方法下盈余計(jì)量的謹(jǐn)慎性差異,還存在較多的爭(zhēng)議。（一）謹(jǐn)慎性對(duì)企業(yè)財(cái)務(wù)報(bào)表數(shù)字的影響謹(jǐn)慎性原則的實(shí)質(zhì)是對(duì)于利得與損失的不對(duì)稱確認(rèn)要求,也就是說(shuō)反映利得比反映損失要求有更嚴(yán)格的可證實(shí)性,損失被立即確認(rèn),而利得只有在實(shí)現(xiàn)以后才被確認(rèn)。謹(jǐn)慎性的這種非對(duì)稱確認(rèn)特征主要影響企業(yè)財(cái)務(wù)報(bào)告中的凈資

14、產(chǎn)、應(yīng)計(jì)和盈余項(xiàng)目。1、凈資產(chǎn)賬面價(jià)值持續(xù)低于其市場(chǎng)價(jià)值。在市場(chǎng)經(jīng)濟(jì)下,企業(yè)資產(chǎn)的市場(chǎng)價(jià)值時(shí)刻在發(fā)生變化,但是所有的這些變化(增值或貶值)并不會(huì)立即、完整地反映在企業(yè)會(huì)計(jì)賬戶和財(cái)務(wù)報(bào)表中。在謹(jǐn)慎性原則下,資產(chǎn)價(jià)值減少(損失)通常被立即確認(rèn),而資產(chǎn)價(jià)值的上升(利得)通常遞延到它被出售或它的價(jià)值通過(guò)收入現(xiàn)金流量實(shí)現(xiàn)時(shí)才被確認(rèn)。例如,在謹(jǐn)慎性原則下,固定資產(chǎn)當(dāng)期的價(jià)值增值,是不允許反映在當(dāng)期的資產(chǎn)計(jì)價(jià)上,而只能等到固定資產(chǎn)被出售時(shí)才能反映這部分增值。而固定資產(chǎn)當(dāng)期的價(jià)值貶值,直接通過(guò)計(jì)提減值準(zhǔn)備減少資產(chǎn)賬面價(jià)值。另外,企業(yè)的研究和開(kāi)發(fā)支出、廣告支出一般而言會(huì)帶來(lái)未來(lái)的經(jīng)濟(jì)利得,具有經(jīng)濟(jì)價(jià)值,但按照謹(jǐn)

15、慎性原則要求,研發(fā)支出和廣告支出直接費(fèi)用化,而不能資本化反映為企業(yè)的一項(xiàng)資產(chǎn),但它們的價(jià)值遞延到以后期間由于研發(fā)支出和廣告支出而產(chǎn)生的收入現(xiàn)金流量實(shí)現(xiàn)時(shí)才被確認(rèn)。但在持續(xù)經(jīng)營(yíng)假設(shè)前提下,企業(yè)通常不會(huì)出售它的固定資產(chǎn),并且研發(fā)支出和廣告支出是持續(xù)發(fā)生的,由此推論,會(huì)計(jì)上對(duì)于資產(chǎn)貶值的反映是及時(shí)的、并且數(shù)額較大,而對(duì)于資產(chǎn)增值的反映是不及時(shí)的、并且數(shù)額相對(duì)較少。因此我們可以得出結(jié)論,謹(jǐn)慎性原則運(yùn)用會(huì)導(dǎo)致企業(yè)凈資產(chǎn)被系統(tǒng)低估其賬面價(jià)值持續(xù)低于其市場(chǎng)價(jià)值。凈資產(chǎn)賬面價(jià)值被低估的程度越大,意味著企業(yè)會(huì)計(jì)越謹(jǐn)慎。利用謹(jǐn)慎性會(huì)計(jì)對(duì)企業(yè)凈資產(chǎn)的持續(xù)低估特征,beaver和ryan提出了對(duì)謹(jǐn)慎性的一種實(shí)證計(jì)量模

16、式:凈資產(chǎn)賬面價(jià)值與市價(jià)比率計(jì)量模式。這一計(jì)量模式評(píng)估了凈資產(chǎn)被累積低估的程度,通過(guò)計(jì)算凈資產(chǎn)賬面價(jià)值與市價(jià)比率的持久偏差成分來(lái)反映財(cái)務(wù)報(bào)告謹(jǐn)慎性的程度。2、應(yīng)計(jì)的項(xiàng)目的凈累計(jì)額持續(xù)為負(fù)。會(huì)計(jì)中的應(yīng)計(jì)項(xiàng)目是由于權(quán)責(zé)發(fā)生制而產(chǎn)生的會(huì)計(jì)盈余與現(xiàn)金流量之間的時(shí)間性差異。從長(zhǎng)期來(lái)看,如果會(huì)計(jì)方法是中立的并且企業(yè)是穩(wěn)定的,折舊和攤銷之前的累計(jì)凈收益金額與經(jīng)營(yíng)現(xiàn)金流量趨向一致,因?yàn)楫?dāng)凈收益超過(guò)(或低于)經(jīng)營(yíng)現(xiàn)金流量時(shí)會(huì)緊跟有負(fù)的(或正的)應(yīng)計(jì)的項(xiàng)目發(fā)生,正的應(yīng)計(jì)與負(fù)的應(yīng)計(jì)項(xiàng)目會(huì)隨著時(shí)間反轉(zhuǎn),應(yīng)計(jì)項(xiàng)目的凈累計(jì)額趨向于零。但是在謹(jǐn)慎性原則下,應(yīng)計(jì)的項(xiàng)目?jī)衾塾?jì)額持續(xù)為負(fù),這是由于謹(jǐn)慎性對(duì)利得和損失的不對(duì)稱處理特

17、征所導(dǎo)致。在謹(jǐn)慎性原則下,損失一旦存在就要求被立即確認(rèn),即使與損失有關(guān)的現(xiàn)金流出可能還沒(méi)有實(shí)際發(fā)生;而利得只有在現(xiàn)金流入實(shí)際發(fā)生時(shí)才能被確認(rèn)。因此,在謹(jǐn)慎性原則下,損失趨向于被全部應(yīng)計(jì)而利得不能應(yīng)計(jì),隨著時(shí)間的推移,應(yīng)計(jì)的項(xiàng)目的凈累計(jì)額趨向于被低估并且持續(xù)為負(fù)。利用謹(jǐn)慎性會(huì)導(dǎo)致應(yīng)計(jì)的項(xiàng)目的凈累計(jì)額持續(xù)為負(fù)的特征,另外提出了謹(jǐn)慎性的另一種計(jì)量模式:應(yīng)計(jì)的項(xiàng)目的計(jì)量模式。這一模式認(rèn)為,企業(yè)長(zhǎng)期持續(xù)顯著的負(fù)效應(yīng)是謹(jǐn)慎性的標(biāo)志。它通過(guò)計(jì)算負(fù)效應(yīng)累積的程度和速度來(lái)反映財(cái)務(wù)報(bào)告謹(jǐn)慎性程度。3、盈余反映的及時(shí)性和盈余變化的持續(xù)性在“利好”與“利差”時(shí)期存在差異。謹(jǐn)慎性原則在確認(rèn)利得與損失時(shí)存在嚴(yán)重的不對(duì)稱性

18、,企業(yè)“利好”時(shí)期與“利差”時(shí)期的會(huì)計(jì)盈余必然在及時(shí)性和持久性方面存在一定的差異。會(huì)計(jì)盈余的及時(shí)性是指當(dāng)期的會(huì)計(jì)盈余是否及時(shí)地反映了公司經(jīng)濟(jì)盈余的變化。在謹(jǐn)慎性原則下,會(huì)計(jì)人員反映利得比反映損失要求有更高的可證實(shí)性,因此本期的會(huì)計(jì)盈余會(huì)反映本期所有的負(fù)的經(jīng)濟(jì)盈余變化(損失),而不會(huì)反映或只會(huì)部分反映本期的正的經(jīng)濟(jì)盈余變化(利得)。換句話說(shuō),在謹(jǐn)慎性原則下,負(fù)的盈余和盈余變化要比正的盈余和盈余變化反映得及時(shí)。會(huì)計(jì)盈余的持續(xù)性是指當(dāng)期的會(huì)計(jì)盈余變化能否持續(xù)到未來(lái)。持續(xù)性和及時(shí)性是一個(gè)問(wèn)題的兩個(gè)方面。及時(shí)性意味著本期信息已經(jīng)反映在本期的會(huì)計(jì)盈余中,這樣的盈余一般不具有很強(qiáng)的持續(xù)性。持續(xù)性則是由于本期

19、會(huì)計(jì)盈余沒(méi)有反映本期信息的全部影響,而是將其部分影響遞延,這樣的盈余一般不具有很強(qiáng)的及時(shí)性。在謹(jǐn)慎性原則下,由于負(fù)的盈余和盈余變化要比正的盈余和盈余變化反映得更加及時(shí),因此正的盈余和盈余變化相對(duì)負(fù)的盈余和盈余變化要更加持續(xù)。利用謹(jǐn)慎性會(huì)計(jì)對(duì)正負(fù)盈余變化反映的及時(shí)性和持續(xù)性差異特征,balls提出了另一種謹(jǐn)慎性實(shí)證計(jì)量模式:每股盈余/每股市價(jià)計(jì)量模式。這一計(jì)量模式反映了會(huì)計(jì)收益包括經(jīng)濟(jì)收益或利得的速度的差異,通過(guò)計(jì)算比較會(huì)計(jì)盈余對(duì)“好消息”和“壞消息”敏感性來(lái)反映財(cái)務(wù)報(bào)告謹(jǐn)慎性的程度。 （二）謹(jǐn)慎性對(duì)股票市場(chǎng)價(jià)格的影響從上面的分析我們知道,謹(jǐn)慎性原則會(huì)低估企業(yè)凈資產(chǎn)的經(jīng)濟(jì)盈余,那么這種低估的凈資

20、產(chǎn)和會(huì)計(jì)盈余是否會(huì)導(dǎo)致投資者對(duì)企業(yè)股票市場(chǎng)價(jià)格的低估呢?在這個(gè)問(wèn)題上還在存在較大的爭(zhēng)議。 有效市場(chǎng)假設(shè)認(rèn)為,投資者不會(huì)系統(tǒng)地被盈余計(jì)量的各種可選擇會(huì)計(jì)方法所誤導(dǎo),因此,從理論上分析,投資者在制定證券價(jià)格時(shí)應(yīng)該能夠估定不同方法下財(cái)務(wù)報(bào)表的內(nèi)在謹(jǐn)慎性差異,并且自行對(duì)會(huì)計(jì)報(bào)告盈余進(jìn)行調(diào)整,不會(huì)由于低估的賬面資產(chǎn)和盈余數(shù)額而低估企業(yè)股票市價(jià)。這一觀點(diǎn)得到了許多實(shí)證支持。例如beaver和dukes發(fā)現(xiàn),采用加速折舊法(相對(duì)穩(wěn)健)企業(yè)的平均盈余反應(yīng)系數(shù)要比采用直線折舊法(相對(duì)激進(jìn))企業(yè)的平均盈余反應(yīng)系數(shù)明顯大。盈余反應(yīng)系數(shù)是指某一證券的超常市場(chǎng)回報(bào)相對(duì)于該證券發(fā)行公司報(bào)告的盈利中非預(yù)期因素的反映程度。盈

21、余反應(yīng)系數(shù)越大,說(shuō)明報(bào)告盈余信息含量越高。他們的證據(jù)表明市場(chǎng)在制定證券價(jià)格時(shí)考慮了盈余計(jì)量的內(nèi)在方法,并且據(jù)此對(duì)企業(yè)報(bào)告盈余進(jìn)行自行調(diào)整,支持了有效市場(chǎng)假設(shè)。但是另一方面,也有不少觀點(diǎn)認(rèn)為,現(xiàn)實(shí)的資本市場(chǎng)并不是完全有效的,投資者通常不會(huì)區(qū)分計(jì)量所采用的各種會(huì)計(jì)方法的謹(jǐn)慎性差異,因此,謹(jǐn)慎性原則對(duì)凈資產(chǎn)的低估和對(duì)正的經(jīng)濟(jì)盈余的滯后反映,可能會(huì)導(dǎo)致市場(chǎng)對(duì)該股票價(jià)格的低估。例如另外將企業(yè)劃分為激進(jìn)會(huì)計(jì)組合群(同時(shí)運(yùn)用直線折舊法和f1fo)和謹(jǐn)慎會(huì)計(jì)組合群(同時(shí)運(yùn)用加速折舊法和lifo),實(shí)證結(jié)果表明,這兩類企業(yè)的盈余反應(yīng)系數(shù)不存在顯著差異,這一證據(jù)并不支持有效市場(chǎng)假設(shè)?？傊?在“證券市場(chǎng)是否完全有效

22、”問(wèn)題上還存在相當(dāng)大的爭(zhēng)議,因此謹(jǐn)慎性對(duì)股票市場(chǎng)價(jià)格的影響也是莫衷一是,還需要進(jìn)一步研究分析。四、謹(jǐn)慎性原則受到的主要批評(píng)和目前的現(xiàn)狀謹(jǐn)慎性原則雖然對(duì)會(huì)計(jì)的理論與實(shí)務(wù)影響巨大,但它也極富爭(zhēng)議。在眾多會(huì)計(jì)文獻(xiàn)和會(huì)計(jì)準(zhǔn)則報(bào)告中,它長(zhǎng)期被視為一項(xiàng)“慣例”,而并非一項(xiàng)“原則”或“準(zhǔn)則”。對(duì)它的批評(píng)主要集中在兩個(gè)方面:第一,謹(jǐn)慎性的運(yùn)用缺乏一個(gè)客觀的標(biāo)準(zhǔn),因此對(duì)它的濫用很普遍并且很難防范。例如,有些企業(yè)可能會(huì)通過(guò)隨意地或前后不一致地制定潛在的損失，從而使得不同企業(yè)之間以及同一企業(yè)不同時(shí)期的會(huì)計(jì)數(shù)字缺乏可比性。第二,傳統(tǒng)謹(jǐn)慎性的會(huì)計(jì)實(shí)務(wù)只預(yù)期潛在的損失或費(fèi)用,而忽略任何可能利得的確認(rèn),會(huì)導(dǎo)致對(duì)潛在資產(chǎn)或收

23、益的低估,低估如同高估,都不能真實(shí)反映企業(yè)財(cái)務(wù)狀況和經(jīng)營(yíng)成果。由于這兩個(gè)限制,謹(jǐn)慎性受到許多攻擊。美國(guó)著名會(huì)計(jì)學(xué)者就指出:“謹(jǐn)慎性是處理計(jì)價(jià)和收入不確定性的一個(gè)非常糟糕的方法,它會(huì)導(dǎo)致會(huì)計(jì)數(shù)據(jù)的完全扭曲。”但是,盡管伴隨著持續(xù)的批評(píng),謹(jǐn)慎性已變成當(dāng)代會(huì)計(jì)最具影響的一個(gè)概念。近年來(lái)大量的實(shí)證研究也指出,謹(jǐn)慎性不僅在現(xiàn)代財(cái)務(wù)報(bào)告中普遍存在,并且在過(guò)去的30年內(nèi),財(cái)務(wù)報(bào)告的謹(jǐn)慎性有上升的趨勢(shì)。從準(zhǔn)則制定機(jī)構(gòu)來(lái)看,雖然美國(guó)的fasb在其財(cái)務(wù)會(huì)計(jì)概念公告第2號(hào)“會(huì)計(jì)信息的質(zhì)量特征”中,將謹(jǐn)慎性視為一種慣例(convention),而非一項(xiàng)原則(principle),但是fasb也認(rèn)識(shí)到謹(jǐn)慎性的合理之處:

24、“在財(cái)務(wù)會(huì)計(jì)和報(bào)告中,也存在謹(jǐn)慎性的合理位置,因?yàn)樯虡I(yè)和經(jīng)濟(jì)活動(dòng)中充滿了不確定性,但需要慎重運(yùn)用”。在fasb看來(lái),商業(yè)經(jīng)營(yíng)中的不確定性是不可避免的,在資產(chǎn)計(jì)價(jià)和損益計(jì)量中必須運(yùn)用各種各樣的估計(jì)或判斷,在決定會(huì)計(jì)估計(jì)和判斷時(shí),會(huì)計(jì)師應(yīng)保持一個(gè)謹(jǐn)慎性的或?qū)徤鞯膽B(tài)度,必要的謹(jǐn)慎性不僅是應(yīng)付商業(yè)交易中內(nèi)在的不確定或風(fēng)險(xiǎn)的一個(gè)必要的、有用的手段,而且將有益于投資者、債務(wù)人和其他信息使用者。從20世紀(jì)80年代末以來(lái),fasb的這種觀點(diǎn)已經(jīng)得到會(huì)計(jì)職業(yè)團(tuán)體和會(huì)計(jì)從業(yè)人員的普遍接受。我國(guó)自1993年頒布的企業(yè)會(huì)計(jì)基本準(zhǔn)則中首次引入了謹(jǐn)慎性原則,明文規(guī)定謹(jǐn)慎性原則是我國(guó)會(huì)計(jì)核算12條原則之一,并且在隨后的具體

25、準(zhǔn)則制定過(guò)程中,體現(xiàn)謹(jǐn)慎性原則的方法陸續(xù)被采用(如lifo、加速折舊法、壞賬準(zhǔn)備的計(jì)提等),特別是在2001年新的企業(yè)會(huì)計(jì)制度中這一原則得到進(jìn)一步的發(fā)展,更多的體現(xiàn)謹(jǐn)慎性原則的會(huì)計(jì)處理方法被引進(jìn)(如資產(chǎn)減值的八項(xiàng)準(zhǔn)備等),謹(jǐn)慎性原則已經(jīng)成為我國(guó)會(huì)計(jì)理論和實(shí)務(wù)中一個(gè)極其重要的原則,但是從目前國(guó)內(nèi)企業(yè)對(duì)謹(jǐn)慎性方法的運(yùn)用來(lái)看,還存在較多的隨意性,對(duì)于這一原則,我們既要正視謹(jǐn)慎性原則固有的弊端,通過(guò)加強(qiáng)會(huì)計(jì)人員的培訓(xùn)和規(guī)范謹(jǐn)慎性方法的實(shí)施細(xì)則,來(lái)避免主觀隨意和“過(guò)度謹(jǐn)慎”;同時(shí)也不能忽視謹(jǐn)慎性原則在減輕代理沖突、避免訴訟風(fēng)險(xiǎn)和遞延的稅收支付中的積極作用,應(yīng)進(jìn)一步加大謹(jǐn)慎性原則的適用范圍和運(yùn)用力度。 h

26、e origin and the economic impact of principle prudence prudence is the traditional accounting is a long history and far-reaching but controversial principle of measurement. since 1993, china promulgated the "enterprise accounting standards" for the first time introduced the principle of pr

27、udence, in 2001, a new "enterprise accounting system" in the further development of this principle, and many reflect the principle of prudent accounting methods were introduced , it is increasingly the impact of accounting practices highlighted, but our research on the principle of prudenc

28、e in the interpretation of most of the use of the table level, the paper tries to in-depth analysis of the content of the principle of prudence, origin and economic impacts, in order to enrich our understanding of the principle of prudence .first, the connotation of the principle of prudence and its

29、 evolutionprudence principle dates back to the middle ages, it was originally the property trustee relieved of their fiduciary duties as a strategy, was later recognized by the accounting officer accepted becoming a long history of far-reaching but controversial accounting principles.the information

30、 currently available from the author, these concepts can be summarized into the following categories:1. concept of fiduciary duty under the principle of prudence. the principle of prudence can be traced back the origins of the middle ages, when the property custodian fiduciary duty in order to reduc

31、e its property, value-added managed without any expected. as the 19th century, the prevalence of accounting fiduciary duty, accounting personnel, litigation risk facing rising, widespread disaster, a strong sense of responsibility for the middle ages the property custodian of care approach to reduce

32、 gradually recognized by the accounting profession, thereby forming a concept of fiduciary duty under the principle of prudence. concept of fiduciary duty of care under the principle of representation many one of the most typical is the bliss in 1924 given a definition: do not expect profits, it is

33、expected that all the losses. it means that accountants can use various means to underestimate the assets and revenue and overestimate the liabilities and costs in order to reduce the fiduciary duty. this view itself is the lack of accounting and economics, the theoretical basis, it is just standing

34、 in a "pragmatic" point of view of prudence is defined, emphasizing the deliberate and consistent underestimation of the net assets and profits, causing many of the prudence criticism. critics of the principle of prudence that the deliberate underestimation of prudence. will form a large n

35、umber of "secret preparations," contrary to the true and fair presentation of accounting information requirements.2. decision-usefulness view under the principle of prudence. beginning of the 20th century, 80 years later, with the goal of accounting concept of fiduciary duty by the shift d

36、ecision-usefulness view, the criticism of prudence has become more intense, the principle of prudence and content are the accounting professional bodies or standards-setting bodies revisited. the u.s. fasb in its conceptual framework for the study repeatedly discussed this concept and tried to use &

37、quot;prudent" to replace the concept of the financial accounting concepts (sfac) no. 2, it will prudence is stated as: "cautious sex is for a prudent reaction to uncertainty to ensure that the inherent business risks and uncertainties that have been fully considered. thus in the future rec

38、eived or paid between the two estimates have the same amount of possibilities, prudence requires the use of less optimistic estimates. " the same time, fasb also clearly pointed out:" (in this definition), the robustness of the concept may be related to the quality of someimportant feature

39、s of conflict, such as fair representation, neutrality and comparability (including consistency) the stability of the financial report should not be deliberate, consistent underestimate the net assets and profits. "compared with the aforementioned bliss definition, fasbs definition of prudence

40、on the one hand that can help reduce business risk, highlighting the economic role of the principle of prudence, so that the principle of prudence has more theoretical basis, on the other hand is also cautious nature of a breakthrough in understanding. because from the fasbs statement of view, it do

41、es not encourage blind to underestimate the assets and revenue and overestimate the liabilities and costs, to deny that the deliberate and consistent over the past few dollars net income and net assets of the practice that the accounting personnel of the information trade-off when the need to be cau

42、tious, but at the same time accounting information to be considered fair expression, neutrality and relevance so that the accounting information provided by both the business environment in response to inherent risks and uncertainties, investors can meet the relevant decision-making needs. this defi

43、nition is mainly qualitative description, certain aspects of the still quite vague, for example, it did not elaborate on "prudent response" meaning, nor did it explain the prudent response is how to ensure that the risk of being "fully taken into account."3. empirical studies in

44、the principle of prudence. since the 20th century, 60 years, with the research methods of accounting theory, normative research by the gradual shift to the empirical study of a large number of empirical studies of accounting literature to emerge. as a careful study of the principle of gradually turn

45、ed to empirical research-based, it is necessary for the empirical analysis of the prudence principle, there must be a corresponding definition to define it, quantify it, and thus emerge from the empirical study of a large number of carefully defined. some of the more typical two-fold: one is the fel

46、ton ham made in 1995, the definition of the definition states: if the enterprises equity market value of the point +1 expectations and corporate equity in +1 point in time the difference between the book value of tends to infinity in the case of greater than 0, then the view that corporate accountin

47、g is cautious ; the other is proposed by balls in 1997, the definition of the definition of the interpretation of the principle of prudence are: accounting staff tend to be good news (profits) than the confirmation of bad news (loss) requires confirmation more rigorous evidence . from these two defi

48、nitions can be seen, empirical research on the definition of the principle of prudence captures the essence of the former reflects the cautious nature of underestimate the book value of net assets of the characteristics can be called "balance sheet-oriented principle of prudence" the latte

49、r reflecting the cautious nature of the asymmetry of gains and losses handling characteristics, namely, the loss was immediately recognized, and the profits only in the realization of the future in order to be recognized, you can call it "income statement-oriented principle of prudence." i

50、n the modern accounting point of view, the profit measure is more important than the valuation of assets, so the "income statement-oriented principle of prudence," empirical studies have mostly.for these three types of prudence principle, concept of fiduciary duty under the care of the lac

51、k of theoretical basis and the presence of obvious defects, basically have been standard-setting bodies and researchers, the abandoned, but under the careful decision-usefulness view and empirical study careful of views have been standard-setting bodies and researchers generally accepted, from this

52、look at the relationship between the two, the former mainly for a qualitative description of prudence, which is a quantitative description of prudence, the two can complement each other explanation. overall prudence is a modern accounting emphasis for the business environment risks and uncertainties

53、 inherent in a prudent response, namely, recognition of gains than losses requires more evidence to confirm, from the early care would be taken as a deliberate underestimate of net income and shareholders net assets into assets and try not to overestimate the profits (but not intentionally underesti

54、mated).second, the principle of prudent economic interpretation of the origin of.the accounting principle of prudence researchers made a number of the origin of the explanation be summed up in three main areas: contracts, litigation, taxation.1. contract interpretation: in the contract interpretatio

55、n, discreet sex is seen as agents in the lease between the parties to resolve the conflict as an important means of contracting. in accordance with the contract theory, enterprises, and between the parties concerned because of asymmetric information, asymmetric interests, limited vision and limited

56、liability will produce a lot of opportunistic behavior. and careful nature of the performance contract is an ideal measurement, because it confirmed that profits require more stringent standards, which can limit the opportunistic behavior of all parties concerned to effectively reduce the business a

57、nd a proxy conflict between the parties concerned. if the debt contract, the shareholders and managers may be over-estimated earnings and assets, the liquidation of the debt as the borrowing of the allocation of dividends to creditors, the transfer of wealth to shareholders the principle of prudence

58、 to avoid overvalued assets and surplus to impose constraints on the distribution of dividends to protect and improve the solvency of enterprises, reducing the possibility of the distribution of corporate dividends over. also in the managers compensation contract, the enterprise managers have an inc

59、entive overestimated the net assets and earnings to maximize their current payment, damage to the interests of shareholders. to avoid this from happening, the shareholders may be requested in advance in the compensation contract will be used to measure income of prudence.therefore, from contract interpretation point of view, the principle of prudence as an effective contracting mechanism of naturally occurring, it presence reduces the l