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Exploring investor views on accounting for R&D costs under IAS 38
Journal of Accounting and Public Policy ( IF 3.629 ) Pub Date : 2022-02-10 , DOI: 10.1016/j.jaccpubpol.2022.106944
Francesco Mazzi 1 , Richard Slack 2 , Ioannis Tsalavoutas 3 , Fanis Tsoligkas 4
Affiliation  

Research and development (R&D) is increasingly significant in the global economy and its accounting treatment has always been, and remains, a contentious area. The standard governing its accounting treatment under International Financial Reporting Standards is IAS 38 Intangible Assets. This was issued in 1998 and remains in force today. This study contrasts the thinking of the standard setters in the historical development of the standard with evidence through interviews with contemporary buy-side and sell-side equity investors. Specifically, we examine the decision-usefulness of R&D accounting information to them, and especially that of the capitalisation of development costs. This unique insight reveals that investors find R&D accounting information useful for decision making, are supportive of the principle of the mandatory capitalisation of development costs, subject to meeting specified conditions, and are very much opposed to a US expense all treatment. However, they do not regard such assets as providing an adequate signal of future value creation to them, which was the expectation of the standard setters. This is attributed to the perceived vagueness and subjectivity of the conditions currently in the standard. The theoretical framing of dissonant translation is employed to unpick these tensions. The study makes significant contributions to the standard setting and R&D strands of the financial accounting literature and the findings raise important policy implications.



中文翻译:

探索投资者对 IAS 38 下研发成本会计处理的看法

研发 (R&D) 在全球经济中越来越重要,其会计处理一直是并且仍然是一个有争议的领域。根据国际财务报告准则管理其会计处理的标准是 IAS 38 无形资产。该文件于 1998 年发布,至今仍然有效。本研究通过对当代买方和卖方股权投资者的采访,将标准制定者在标准历史发展中的想法与证据进行对比。具体来说,我们研究了研发会计信息对他们的决策有用性,尤其是开发成本资本化的决策有用性。这种独特的洞察力表明,投资者发现研发会计信息对决策有用,支持开发成本强制资本化的原则,但需满足特定条件,非常反对美国费用一律处理。然而,他们并不认为这些资产为他们提供了未来价值创造的充分信号,这是标准制定者的期望。这归因于标准中当前条件的模糊性和主观性。不和谐翻译的理论框架被用来消除这些张力。该研究对财务会计文献的标准制定和研发领域做出了重大贡献,研究结果提出了重要的政策含义。他们不认为此类资产向他们提供了未来价值创造的充分信号,而这正是标准制定者的期望。这归因于标准中当前条件的模糊性和主观性。不和谐翻译的理论框架被用来消除这些张力。该研究对财务会计文献的标准制定和研发领域做出了重大贡献,研究结果提出了重要的政策含义。他们不认为此类资产向他们提供了未来价值创造的充分信号,而这正是标准制定者的期望。这归因于标准中当前条件的模糊性和主观性。不和谐翻译的理论框架被用来消除这些张力。该研究对财务会计文献的标准制定和研发领域做出了重大贡献,研究结果提出了重要的政策含义。

更新日期:2022-02-10
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