theorychapter4规范会计理论-物价变动会计为例

Copyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.1FinancialAccountingTheoryCraigDeeganChapter4Normativetheoriesofaccounting-thecaseofaccountingforchangingpricesSlideswrittenbyMichaelaRankinChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.2LearningObjectives•Inthischapteryouwillbeintroducedto–someparticularlimitationsofhistoricalcostaccountingintermsofitsabilitytocopewithvariousissuesassociatedwithchangingprices–anumberofalternativemethodsofaccountingthathavebeendevelopedtoaddressproblemsassociatedwithchangingprices–someofthestrengthsandweaknessesofthevariousalternativeaccountingmethodsChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.3LearningObjectives–EvidencethatthecalculationofincomepursuanttoaparticularmethodofaccountingwilldependontheperspectiveofcapitalmaintenancethathasbeenadoptedChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.4Limitationsofhistoricalcostintimesofrisingprices•Historicalcostassumesmoneyholdsaconstantpurchasingpower•threecomponentsoftheeconomywhichmaketheassumptionlessvalidthanwhenhistoricalcostwasdeveloped:–specificpricelevelchanges(shiftsinconsumerpreference;technologicaladvances)–generalpricelevelchanges(inflation)–fluctuationinexchangeratesChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.5Limitationsofhistoricalcostintimesofrisingprices-continued•problemofrelevanceintimesofrisingprices–asset’scurrentvaluemaybedifferentfromhistoricalcost•problemofadditivity•canoverstateprofitsintimesofrisingprices,withdistributionofprofitsleadingtoanerosionofoperatingcapacity•includingholdinggainswhichaccruedinpreviousperiodsincurrentyear’sincomedistortsthecurrentyear’soperatingresultsChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.6Supportforhistoricalcostaccounting•Predominantmethodusedtodaysotendedtomaintainsupportofprofession•ifnotfoundusefulbusinessentitieswouldhaveabandoneditChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.7DefinitionofIncome•Themaximumamountthatcanbeconsumedduringtheperiodwhilestillexpectingtobeaswelloffattheendoftheperiodasatthebeginningoftheperiod(Hicks,1946)•considerationof‘well-offness’reliesuponanotionofcapitalmaintenance•differentnotionsofcapitalmaintenancewillprovidedifferentperspectivesofincomeChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.8Capitalmaintenanceperspectives•Financialcapitalmaintenance–perspectivetakeninhistoricalcostaccounting•purchasingpowermaintenance–historicalcostaccountsadjustedforchangesinthepurchasingpowerofthedollar•physicaloperatingcapitalmaintenanceChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.9Developmentofaccountingforchangingprices•Researchinitiallyrelatedtousingpriceindicestorestatehistoricalcoststoaccountforchangingprices•literaturethenmovedtowardscurrentcostaccounting–thebasisofmeasurementchangedtocurrentvaluesnothistoricalvaluesChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.10Currentpurchasingpoweraccounting•Alsocalledgeneralpurchasingpoweraccounting;generalpricelevelaccounting;constantdollaraccounting•basedontheviewthatintimesofrisingprices,ifanentityweretodistributeunadjustedprofitsbasedonhistoricalcosts,inrealtermstheentitycouldbedistributingpartofitscapitalChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.11Calculatingindices•Apriceindexisusedwhenapplyinggeneralpricelevelaccounting•apriceindexisaweightedaverageofthecurrentpricesofgoodsandservicesrelatedtoaweightedaverageofpricesinapriorperiod(baseperiod)–eg.AustralianConsumerPriceIndex(CPI)•canuseageneralorspecificpriceindexChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.12Performingcurrentpurchasepoweradjustments•Alladjustmentsareperformedattheendoftheperiod•adjustmentsareappliedtohistoricalcostaccounts•monetaryandnon-monetaryassetsconsideredseparately–valuesofmonetaryassetsdonotchangeasaresultofinflation–liabilitiesgenerallyconsideredmonetaryitemsChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFinancialAccountingTheorybyDeegan4.13Performingcurrentpurchasepoweradjustments-continued•Intimesofinflation,holdersofmonetaryassetswillloseinrealterms–theassetshavelesspurchasingpowerattheendoftheperiodrelativetothebeginningoftheperiod•holdersofmonetaryliabilitiesgain,giventheamounttheyhavetorepayattheendoftheperiodisworthlessthanatthebeginningChapter4:AccountingforchangingpricesCopyright©2000McGraw-HillBookCo.Aust.PPTt/aFi