intermediateaccountingearningsmanagementmodule∶timevalueofmoneyreview-資料下載頁
2025-08-10 18:13本頁面
【導讀】EarningsManagement. Stice|Stice|Skousen. 6-2. LearningObjectives. management.manageearnings.6-3. OBJECTIVE1. 6-4. ReportedEarnings. manipulateresults:. IPOoraloan.6-5. salesefforts,controlcosts,anduse. 6-6. 6-7. 6-8. 6-9. 6-10. thenextiscalledine. smoothing.6-11. 6-12. foranIPOoraLoan. earningslookgood(especially. windowdressing.6-13. tomanageearnings.OBJECTIVE2. 6-14. EarningsManagement. Continuum. continuum.6-15. General. Electric. Delta. AirlinesXeroxEnron. ZZZZ. Best. 6-16. ChairmanLevitt’sTopFive. ArthurLevitt. FormerSEC. Chairman. 1.Bigbathcharges. accounting. 4.Materiality. 6-17. BigBathCharges. newsinoneyear.6-18. CompanyD. recognizeditsbad. newsinoneyear,andthustooka. “bigbath.”6-19. allocated.6-20. CookieJarReserves. w
【正文】 st of doing business. 640 ? The cost of capital is the cost a pany bears to obtain external financing. What is the Cost of Capital? ? The cost of debt financing is simply the aftertax interest cost associated with borrowing the money. (continues) 641 ? The cost of equity financing is the expected return necessary to induce investors to provide equity capital. What is the Cost of Capital? 642 A pany’s cost of capital is critical because it determines which longterm projects are profitable to undertake. What is the Cost of Capital? 643 The Role of Accounting Standards ? The FASB and the AICPA help lower the cost of capital by promulgating uniform recognition and disclosure standards for use by panies in the United States. ? The SEC has the primary mission of protecting investors and maintaining the integrity of the securities market. (continues) 644 ? The IASB is playing an increasingly important role in enhancing the credibility of international financial reporting. The Role of Accounting Standards 645 The Necessity of Ethical Behavior ? Managers have strong economic incentives to report favorable financial results, and these incentives can lead to deceptive or fraudulent reporting. ? Managers also have strong incentives to maintain a reputation for credibility for both the pany and for themselves personally. 646 AICPA Code of Professional Conduct “In discharging their professional responsibilities, members may encounter conflicting pressures.... In resolving those conflicts, members should act with integrity, guided by the precept that when members fulfill their responsibility to the public, clients’ and employers’ interests are best served.” 647 Chapter 6 The End
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