Externe Rechnungslegung, internes Rechnungswesen und Kapitalmarkt

Dieter Pfaff and Oliver Bärtl
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Dieter Pfaff: Universität Zürich
Oliver Bärtl: Universität Zürich

Schmalenbach Journal of Business Research, 1998, vol. 50, issue 9, 757-777

Abstract: Summary The management practice of a few German corporations started to utilize financial reports in lieu of cost accounting to run their operations. As a consequence a discussion of whether or not corporations need a cost accounting system additional to and distinct from the financial accounting system arose. The arguments focused on the difference of costs versus expenses. The discussion, however, has not been considering interdependencies between cost and financial accounting. This paper scrutinizes the importance of doing so, especially if the management is tied to the capital market evaluation of equity and the capital market price does not reflect fundamental values. In particular, using a simple market model four necessary conditions are developed in order to show when financial and cost accounting issues may not be discussed separately.

Date: 1998
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DOI: 10.1007/BF03371532

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