03 Measurement and Accounting - 03 MeasurementandAccounting

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Measurement and Accounting Measurement and Accounting Accountancy 301 Spring 2011 Flora Zhou 03
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Today Today ’s agenda ’s agenda • Measurement definition  • Measurement complications – Estimation  – Substitutes • Measurement and perspectives of users • Qualitative characteristics of useful  financial information – Earnings quality
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Define  Define  “Measurement” “Measurement” The  assignment  of  numerals  to represent the  magnitude  of an  attribute  of a  phenomenon .
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Define  Define  “Measurement” “Measurement” The  assignment  of  numerals  to represent the  magnitude  of an  attribute  of a  phenomenon . • Phenomenon:
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Define  Define  “Measurement” “Measurement” The  assignment  of  numerals  to represent the  magnitude  of an  attribute  of a  phenomenon . • Attribute:
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Define  Define  “Measurement” “Measurement” The  assignment  of  numerals  to represent the  magnitude  of an  attribute  of a  phenomenon . • Magnitude: the extent to which the  phenomenon has the attribute – e.g., 5 feet long, $ 5 million, 5 games, excellent  or beating the target
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Define  Define  “Measurement” “Measurement” • The  assignment  of  numerals  to represent the  magnitude  of an  attribute  of a  phenomenon • Numerals: A symbol that has no quantitative  meaning unless we give it such a meaning.  • Levels of measurements – Nominal – Ordinal – Interval – Ratio
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This note was uploaded on 11/08/2011 for the course ACCY 301 taught by Professor Staff during the Fall '08 term at University of Illinois, Urbana Champaign.

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03 Measurement and Accounting - 03 MeasurementandAccounting

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