2018_2 H1 opgave 1 Flashcards

1
Q
  1. Wat is het doel van Financial Accounting Theory (FAT)?
A
  1. Financial accounting theory (FAT) provides a critical awareness of the current financial accounting and reporting environment.
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2
Q
  1. Welke twee typen informatieasymmetrie behandelt Scott?
A
  1. Adverse Selection en Moral Hazard
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3
Q
  1. Geef van beide typen een voorbeeld in de context van Financial Accounting Theory (FAT), waarbij duidelijk de koppeling tussen het type informatieasymmetrie en het voorbeeld blijkt.
A
  1. Type informatieasymmetrie: adverse selection. Voorbeeld: inside information, management weet meer van de business dan de principaal (eigenaar). Type informatieasymmetrie: moral hazard. Voorbeeld: inspanning door het management; luieren, ja of nee.
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4
Q
  1. Leg uit wat de begrippen rules-based en principles-based accounting standaarden betekenen.
A
  1. Rules-based standards: “as a cookbook with detailed provisions of methods for all accounting problems, where it is unambiguously clear how and when it is to be applied, stressing its legal form over its economic substance.” Detailed rules for how to account/ rule checking (Scott)

Principles-based: “An ultimate principles-based accounting standard is a general description of the fundamental objectives of accounting, captured in a conceptual framework to emphasize substance- over-form.” Strong conceptual framework.

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