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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]

Author

Listed:
  • David Procházka
  • Jiří Pelák

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.

Suggested Citation

  • David Procházka & Jiří Pelák, 2016. "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 Sta," Politická ekonomie, Prague University of Economics and Business, vol. 2016(4), pages 451-467.
    • Handle: RePEc:prg:jnlpol:v:2016:y:2016:i:4:id:1081:p:451-467
    DOI: 10.18267/j.polek.1081
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    More about this item

    Keywords

    relevance of accounting research; information economics; accounting functions;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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