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Financial statement presentation of discontinued operations: Determinants and consequences
Advances in Accounting Pub Date : 2020-06-01 , DOI: 10.1016/j.adiac.2020.100472
Binod Guragai , Weerapat Attachot , S. Drew Peabody

ABSTRACT US GAAP requires firms to separately report income from discontinued operations within the income statement. Current financial reporting guidance, however, allows managers to either aggregate or disaggregate operating income (or loss) and gain (or loss) from discontinued operations on the face of the income statement. Using this unique setting, we hand-collect data on the presentation of discontinued operations (i.e., aggregated versus disaggregated presentation) to understand factors that affect the discretionary presentation choices in financial statements. We show that managers' disaggregation preference in reporting discontinued operations reflect properties of prospect theory and mental accounting theory. We fail to find empirical evidence that investors' valuation of discontinued operations is different for aggregated and disaggregated presentations. These results should help managers, regulators, and investors understand the implications of discontinued operations' presentation choices in financial reporting.

中文翻译:

终止经营的财务报表列报:决定因素和后果

摘要美国公认会计原则要求企业在损益表中分别报告来自已终止经营业务的收入。但是,当前的财务报告指南允许经理在损益表上汇总或分解营业收入(或亏损)和已终止经营业务的收益(或亏损)。使用这种独特的设置,我们可以手动收集有关已终止业务的表示方式的数据(即汇总表示与非汇总表示),以了解影响财务报表中可自由选择的表示方式的因素。我们表明,经理在报告已终止业务中的分类偏好反映了前景理论和心理会计理论的性质。我们找不到经验证据来证明投资者的 对于汇总和分类的演示文稿,已终止业务的估值是不同的。这些结果应有助于经理,监管者和投资者了解终止经营业务的财务报告方式的含义。
更新日期:2020-06-01
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