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Measuring Accounting Quality

Strategic finance (Montvale, N.J.), 2013-05, Vol.94 (11), p.18

Copyright Institute of Management Accountants May 2013 ;ISSN: 1524-833X

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  • Title:
    Measuring Accounting Quality
  • Author: Bruce Pounder
  • Subjects: Accounting ; Accrual basis accounting ; Cash payments ; Earnings management ; Financial accounting standards ; Financial reporting ; Quality
  • Is Part Of: Strategic finance (Montvale, N.J.), 2013-05, Vol.94 (11), p.18
  • Description: The value of financial accounting is determined largely by its quality. The central concept of accounting quality is that some accounting information is better than other accounting information at communicating what it purports to communicate. For that reason, accounting quality is of great interest to participants in the financial reporting supply chain. Many different approaches have been used to measure accounting quality, and new approaches are continually being developed. Accounting professionals usually expect measures of accounting quality to be determined directly from the financial information that entities report, as many measures are. One significant general approach to measuring accounting quality is the accrual quality approach. Under accrual-basis accounting, which dominates corporate accounting throughout the world, revenues may be recognized independently of cash collections, and expenses may be recognized independently of cash payments. In theory, an entity's operating cash flows should correspond to its accrued revenues and expenses within one operating cycle before or after accrual.
  • Publisher: Montvale: Institute of Management Accountants
  • Language: English
  • Identifier: ISSN: 1524-833X
  • Source: ProQuest Central
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