Ekonomické teorie účetnictví: přehled moderních přístupů a jejich reflexe při tvorbě účetních standardů

Economic Theories of Accounting: The Review of Modern Approaches and their Relevance for Standard-Setting

David Procházka and Jiří Pelák

Politická ekonomie, 2016, vol. 2016, issue 4, 451-467

Abstract: The paper deals with fundamental functions of accounting and their characteristics, which are identified with reference to the information economics. Accounting research distinguishes three accounting functions: decision-usefulness; contracting; and signalling. Useful information produced by accounting contributes to mitigating the information asymmetry within economy. The theoretical classification of accounting functions is also relevant for the standard-setting, as different decision tasks require different sets of accounting information. Standard-setters face then a challenge, which function shall have priority over others. Setters utilise the findings of accounting research, which offers relevant inputs for the cost-benefit analysis of deliberated accounting treatments. The analysis of the IASB's Conceptual Framework for Financial Reporting demonstrates a substantial influence of accounting research on the content of IFRS.

Keywords: relevance of accounting research; information economics; accounting functions (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.18267/j.polek.1081

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