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ch5_stu_sp08 - ACG 2021 Accounting for Decisions Chapter 5...

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1 ACG 2021 Accounting for Decisions Chapter 5: Communicating and Interpreting Accounting Information Yunhao Chen [email protected]
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2 What do We Hope to Learn? Who are the people involved in the accounting communication process? What are their roles? Disclosure process: press releases, annual reports, quarterly reports, and SEC filings. What does the ratio Return on Equity purport to tell us?
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3 Who are the Players? Regulators (SEC, FASB, PCAOB…) Managers (CEO, CFO, and Accounting Staff) Auditors Info Intermediaries: Analysts Information Services Info Users: Institutional vs. Individual investors Lenders
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4 To be useful , information should possess the following qualitative characteristics: 1) Relevance 2) Reliability 3) Comparability 4) Consistency Qualitative Characteristics Of Accounting Information
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5 Specific to a single business Timely Simplified and condensed Has predictive value and feedback value   Relevance
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6 Reliability Accurate Unbiased Verifiable
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